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Bank Of England Raises Key Rate Further To Tame Inflation

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, 03-28-2023 at 02:10 AM (671 Views)
      
   
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The Bank of England hiked its key rate for the eleventh consecutive session on Thursday as an unexpected rise in inflation outweighed concerns about the recent banking sector turbulence. The nine-member Monetary Policy Committee decided to lift the bank rate by 25 basis points to 4.25 percent. This was the highest rate since 2008.

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