Pound Slips As BOE Hikes Interest Rates – 2 November, 2017

The Bank of England raised interest rates for the first time in over a decade from a benchmark rate of 0.25 to 0.50, despite concerns about Britain’s economy and Brexit negotiations. The changed caused the Pound to drop against the Dollar for the second day, trading at $1.3111. The yield on two year bonds fell to 0.42 percent, and the 10 year rate fell to 1.30.