Breaking: BoE raises policy rate by 25 bps to 4.5% in May as expected

Following its May policy meeting, the Bank of England (BOE) announced that it raised the policy rate by 25 basis points (bps) to 4.5% as expected. Two policymakers, Tenreyro and Dhingra, voted to keep the policy rate on hold at 4%.

Developing story...

Follow our live coverage of the BOE policy announcements and the market reaction.