The BoE's Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, its highest since 2008 and its largest rate increase since February.
SWISS FRANCThe Swiss franc fell after the Swiss National Bank (SNB) hiked its benchmark interest rate by 25 basis points to 1.75%, defying some market expectations of a bigger increase.
However, economists polled by Reuters had expected the SNB to hike rates by 25 bps.
The Swiss franc fell 0.15% to 0.8942 against the dollar, moving away from a six-week high it touched last week.
In an attempt to curb inflation, Norges Bank raised interest rates to 3.75%, sending the crown more than 1% higher both against the euro and dollar.
Persons:
Dado Ruvic, BoE, Sterling, BOE, Paul Oberschneider, Alex Livingstone, Thomas Jordan, Thomas Gitzel, POWELL, Jerome Powell, Joice Alves, Alexander Smith, Conor Humphries
Organizations:
U.S, REUTERS, Norges Bank, Swiss, Bank of England, Swiss National Bank, MPC, Reuters, Hilltop Credit Partners, Trading, Titan Asset Management, SWISS, ECB, European Central Bank, Fed, Federal, Bank Group, bps, Bank, Capitol, The U.S, Thomson
Locations:
Norwegian, London, Liechtenstein, NORWEGIAN, The, Asia, Hong Kong, China