UK Interest Rates Rise

Benzinga
Benzinga
  • 2 years ago
The Bank of England raised its key interest rate by 0.75 percent on Thursday, raising its benchmark lending rate from 2.25 percent to 3 percent. This was its largest increase since 1989. The BOE started raising its key rate earlier than the Fed, but it has been more cautious in its moves. Critics say that the central bank isn’t doing enough to fight inflation, but policymakers point out that the BOE can do little to affect the nation’s skyrocketing energy prices.

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