The bank of England raised benchmark interest rates on Thursday, a move that has been widely anticipated, although modest, but it still represents a major global central bank exit after the financial crisis is an important step in the stimulus master of science in statistics. The bank of England raised its policy rate from 0.25 per cent to 0.5 per cent, while hinting that it would raise interest rates twice before the end of the decade. Sterling and gilt yields fell sharply after the decision was announced. The previous day, the federal reserve also hinted it was preparing to raise short-term interest rates next month. It would also be the fed's fifth interest rate hike since 2015. A week ago, the ECB confirmed it would scale back its bond-buying by January. Both the us and eurozone economies have been growing at their healthiest pace for years master of fine art hong kong, the first time since the global financial crisis that the two largest economies have seen a trend of simultaneous growth. But Britain has lagged behind. Bank of England officials said it was the result of the uncertainty created by the British vote to leave the European Union last year. The bank of England officials reiterated this view in the announcement, namely as the rearrangement and the euro zone and the global economy, business relations, Britain withdrew the will weigh on the economy in the coming years. The bank of England's monetary policy committee said the brexit decision was having a significant impact on Britain's economic prospects. Uncertainty about brexit is weighing on domestic activity. Against a backdrop of sharply rising global growth, domestic activity in the UK has slowed. Officials said, as long as the this shift in the works, the British economy is hard to like the same country or region to realize rapid growth, under the premise, for the first time in 10 years to hike the purpose is to curb inflation hong kong wine academy. In addition, in the bank of England's economic forecast on Thursday, officials forecast the UK's potential annual growth rate of around 1.5 per cent, well below the 2 to 2.25 per cent that it used to be in the UK before the global financial crisis. The boe also expects annual inflation to hit the central bank's target level of around 2 per cent in three years, if interest rates rise modestly, as investors expect. Short-term interest rates in financial markets have shown that investors think the bank of England will raise interest rates twice in the next three years and reach 1% by the end of 2020.