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Published 1 year ago

Bank of England raises its benchmark rate by 75 basis points, its biggest hike in 33 years

Summary by Ground News
The Bank of England has raised interest rates by 0.75 percentage points to 3% to calm inflation that has soared this year in response to spiralling energy and food bills. The decision is aimed at taming inflation ahead, some of which will be attributed to the mini-budget announced by the Truss government in September. It was widely anticipated by financial markets as major central banks double down.

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