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Bank of England raises interest rates to 1.75% in biggest hike in 27 years

Summary by Ground News
Bank of England raises interest rates by 50 basis points for the first time since 1995. The move took the benchmark interest rate to 1.75%, its highest since 2008. Inflation hit a 40-year high of 9.4% year-on-year in June.
2 months ago·London, United Kingdom

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News18 IndiaNews18 India

Bank of England Raises Key Interest Rate by 50 bps, Its Biggest Hike in Over 27 Years

The BoE warned that Britain was facing a recession with a peak-to-trough fall in output of 2.1%

2 months ago·India
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ReutersReuters

India cenbank raises key rate 50 bps as inflation seen staying elevated

The Reserve Bank of India's key policy repo rate was raised by 50 basis points on Friday, the third increase in the current cycle to cool stubbornly high inflation that has remained above the central bank's tolerance band for six straight months.

2 months ago·United Kingdom
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The GuardianThe Guardian

Bank of England hikes interest rates and says inflation will hit 13%

Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October

2 months ago·London, United Kingdom
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The HinduThe Hindu

Faced with soaring inflation, Bank of England announces largest rate increase in 27 years

U.K. economy projected to go into recession from the fourth quarter of 2022, with GDP shrinking in five consecutive quarters: BoE

2 months ago·India
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The IndependentThe Independent

Bank of England raises interest rates to 1.75% - the highest level in 13 years

Interest rate rise is ‘further proof Conservatives have lost control of the economy’ Labour says

2 months ago·London, United Kingdom
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Global NewsGlobal News

Bank of England makes biggest rate hike in 27 years, warns of recession until 2024 - National

The British pound sterling fell as the Bank of England said Britain would enter a recession at the end of 2022 and not emerge until early 2024.

2 months ago·Toronto, Canada
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