BoE raises interest rates to 0.75%

The BoE predicts global inflationary pressures will ‘strengthen considerably’ further over coming months, while growth in economies that are net energy importers, including the United Kingdom, is likely to slow

The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy.

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