BOE raises bank rate by 25 bps from 0.25% to 0.50%

Prior 0.25%
Bank rate vote 5-4 (minority camp wanted to hike by 50 bps to 0.75%)

Voted unanimously to reduce the stock of UK government bond purchases
Bank rate still preferred tool for adjusting monetary policy stance
Ramsden, Saunders, Haskel, Mann wanted to raise rates by