The Bank of England continues to take it slow with interest rates despite the Federal Reserve’s aggression

Given America’s aggressive 0.75% move, debate is going to focus on whether Britain should have moved harder and faster, writes James Moore

The Bank of England has raised UK interest rates to 1.25 per cent (Reuters)

Two talking points arise from the Bank of England’s latest move on interest rates, which saw them increase by a quarter-point to 1.25 per cent, their highest level in more than a decade.

The first is the economic one and we’ll cover that first. The second (which we’ll get to) will probably get you good and riled up.

It was widely expected that the Bank’s monetary policy committee (MPC) would impose a rise, but given the US Federal Reserve’s aggressive 0.75 per cent move on Wednesday, debate is inevitably going to focus on whether Britain’s central bank should have moved harder and faster.