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Bank Of England Delivers Biggest Rate Hike In 33 Years

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by , 11-04-2022 at 12:11 PM (150 Views)
      
   
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The Bank of England delivered the biggest interest rate hike in 33 years on Thursday, joining its global peers in aggressive tightening to bring inflation down from double-digits, even as the U.K. economy is forecast to remain in a prolonged recession. The nine-member Monetary Policy Committee decided to raise the bank rate by 75 basis points to 3.00 percent from 2.25 percent.

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