Bank of England makes historic rate hike despite 'very challenging' outlook

Bank of England makes historic rate hike amid ‘very challenging’ economic outlook - National

The BoE estimates that Britain's economy entered recession in the third quarter of 2022 and that the recession will last until the middle of 2024.

Bank of England makes historic rate hike as UK faces recession

Thu, 2022-11-03 16:27 LONDON: The Bank of England raised interest rates to 3 percent on Thursday from 2.25 percent, its biggest rate rise since 1989, but it pushed back against expectations for further steep hikes, saying Britain faces a long and painful recession, according to Reuters. The pound slid briefly below $1.12 after the decision as the central bank said it “might” raise interest rates again because of a “very challenging” economic o…

Bank of England makes historic rate hike despite 'very challenging' outlook

The Bank of England forecasts inflation will hit a 40-year high of around 11% during the current quarter.

Bank of England makes historic rate hike despite 'very challenging' outlook

LONDON: The Bank of England (BoE) raised interest rates to 3 per cent on Thursday (Nov 3) from 2.25 per cent, its biggest rate rise since 1989 as it warned of a "very challenging" outlook for the economy. The central bank forecasts inflation will hit a 40-year high of about 11 per cent during the current q

Bank of England makes historic rate hike despite 'very challenging' outlook

By David Milliken and Andy Bruce

Bank of England makes historic rate hike despite ‘very challenging’ outlook

The central bank forecasts inflation will hit a 40-year high of around 11%