The Bank of England on Thursday raised its key interest rate by half a percentage point to 1.75 percent. The size of the increase is the biggest in more than 27 years.
It is the sixth consecutive rate hike by the British central bank.
Soaring energy prices pushed up consumer price index in the UK for June by 9.4 percent, which is the highest level in four decades. The Bank of England is attempting to curb accelerating inflation by raising interest rates.
It is the sixth consecutive rate hike by the British central bank.
Soaring energy prices pushed up consumer price index in the UK for June by 9.4 percent, which is the highest level in four decades. The Bank of England is attempting to curb accelerating inflation by raising interest rates.
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Summary
Bank of England raises key interest rate by 0.5% to 1.75%, marking the sixth consecutive hike and the largest increase in over 27 years. The move comes amid rising energy prices pushing UK's consumer price index for June to 9.4%, a four-decade high. The central bank aims to curb accelerating
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ID: 62ec84a6-45e0-4050-b3e7-4473c0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220805_04/
Date: Aug. 5, 2022
Created: 2022/08/05 11:47
Updated: 2025/12/09 14:32
Last Read: 2022/08/05 11:47