The Bank of England has raised its key interest rate by 75 basis points to 3 percent, its eighth consecutive hike.
Thursday's move marked the first time since 1989 that the central bank has raised the rate by such a large margin under normal monetary policy.
The country's consumer price index for September rose 10.1 percent from a year earlier, as record inflation continued.
The Bank of England hopes the sharp rate increase will contain soaring prices.
Thursday's move marked the first time since 1989 that the central bank has raised the rate by such a large margin under normal monetary policy.
The country's consumer price index for September rose 10.1 percent from a year earlier, as record inflation continued.
The Bank of England hopes the sharp rate increase will contain soaring prices.
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Summary
The Bank of England increased its key interest rate by 75 basis points to 3%, marking the eighth consecutive hike and the largest rise since 1989 under normal monetary policy. This move comes amidst a record inflation rate of 10.1% for September, as consumer prices continue to soar. The central
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ID: 238f6b9d-f9a0-42da-bc07-5392763122d3
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221104_07/
Date: Nov. 4, 2022
Created: 2022/11/04 07:20
Updated: 2025/12/09 11:59
Last Read: 2022/11/04 07:32