Interest rate hikes are all about timing, which makes this rise bizarre

The Bank of England cut rates last year to deal with a Brexit downturn that didn’t happen but it raised rates now when the risks feel more immediateYou wait 10 years for a rise in interest rates and, when the moment finally arrives, the timing feels completely arbitrary.An easier moment to make the move would have been the start of this year. The August 2016 cut from 0.5% to 0.25% was presented as an emergency measure to prevent a post-referendum recession. When the downturn didn’t a