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Bank of England’s shock rate hike to 1.75% is biggest in 27 years
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Britain’s central bank decided Thursday to raise its key interest rate a full half a percentage point from 1.25% to 1.75% to combat spiraling inflation.
The Bank of England joined the Federal Reserve in unleashing a larger-than-expected hike – it’s biggest in 27 years – as it grapples with inflation that spiraled in June to a 40-year high of 9.4%.
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Read more on fnlondon.comAbout this in other media
The Bank of England after Boris Johnson: should inflation target be raised? theguardian.com /2 years ago
Bank of England governor Andrew Bailey warns MPs: Don’t weaken our independence fnlondon.com /2 years ago
Government needs a big-bang solution or faces consequences of rising energy bills theguardian.com /2 years ago
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