Because of higher housing prices and increased consumer confidence, the Bank of England was widely expected to temper rejuvenated economic growth with an interest rate hike at its meeting on Nov. 9. And it did, boosting the bank rate 25-basis points to 5.0%. That same week, the Reserve Bank of Australia was meeting as well. The consensus was that it too would raise interest rates, and that it would be the last hike of the year, as rates were already high at 6%. And it did, lifting the cash rate by 25-basis points to 6.25%.
展开▼
