European Rates: Tighter Still

The Bank of England hikes rates by a quarter-point on July 5 and the European Central Bank confirms expectations for a similar move in August

Call it a split decision. The Bank of England raised its policy rate by 25 basis points, to 5.75%, on July 5, in line with market expectations. But, on the same day, the European Central Bank held tight on its benchmark refinance rate, leaving it at 4.0%.

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