THE GUARDIAN: Latest 0.25 point hike marks 12th rise in a row as Bank battles stubbornly high inflation
The Bank of England has raised interest rates by a quarter of a percentage point to 4.5% amid growing concerns about persistently high inflation in the UK.
The Bank’s monetary policy committee voted by a majority for a 12th successive increase in borrowing costs, continuing its most aggressive rate-hiking cycle since the 1980s in an attempt to dampen UK inflation which remains in double digits.
UK rates are at the highest level since October 2008, when the global economy was in the grips of the financial crisis. » | Richard Partington | Thursday, May 11, 2023
