Bank of England Makes Biggest Rate Rise Since 1995 as Inflation Soars

LONDON — The Bank of England raised its key interest rate by half a percentage point on Thursday, the largest single move in more than a quarter century, as the central bank follows the Federal Reserve in prioritizing the fight against inflation over the risk of inflation hurting growth.

In a statement, the bank raised its policy rate to 1.75% from 1.25%. That means the bank has raised borrowing costs for six straight meetings of its monetary policy committee, the longest such streak since the late 1990s.

https://www.wsj.com/articles/bank-of-england-makes-biggest-rate-rise-since-1995-as-inflation-soars-11659611012 Bank of England Makes Biggest Rate Rise Since 1995 as Inflation Soars

Alley Einstein

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