The Bank of England has raised its key interest rate by 0.25 percentage points, its 11th consecutive increase.
The central bank's policymakers voted for the hike on Thursday. The rate now stands at 4.25 percent.
The UK inflation rate has been climbing at a record pace, jumping to 10.4 percent in February compared to the same month a year earlier.
Analysts say the latest move demonstrates the bank's commitment to cool inflation despite simmering concerns about global financial systems.
The central bank's policymakers voted for the hike on Thursday. The rate now stands at 4.25 percent.
The UK inflation rate has been climbing at a record pace, jumping to 10.4 percent in February compared to the same month a year earlier.
Analysts say the latest move demonstrates the bank's commitment to cool inflation despite simmering concerns about global financial systems.
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Summary
Bank of England increases key interest rate by 0.25%, marking the 11th consecutive rise to 4.25%. Inflation rate at a record high of 10.4% in February, compared to same month last year. Move demonstrates bank's dedication to controlling inflation amidst global financial concerns.
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ID: 58ccf75e-006c-4b84-9ff1-ded9f7b4a961
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230324_01/
Date: March 24, 2023
Created: 2023/03/24 07:47
Updated: 2025/12/09 05:53
Last Read: 2023/03/24 07:52