Bank of England Unexpectedly Raises Interest Rates

The Bank of England unexpectedly raised its benchmark interest rate by a quarter-point, the third increase since August, saying inflation may accelerate and spur demands for higher wages.

The nine-member Monetary Policy Committee lifted the repurchase rate to a five-year high of 5.25 percent today, surprising all of the 52 economists in a Bloomberg survey. Risks of faster inflation ``now appear more to the upside,'' the bank said in a statement. The pound rose and bonds fell.

Yeah.....good good..Rise in interest rate probably will cause panic in the market and set people locking in their profits. Bonds and equity market might fall due to such correction. Time to make some profit i hope.