Bank of England readies for biggest rate rise since 1989

Summary by Ground News

The Bank of England looks on track to raise interest rates by three quarters of a percentage point to 3% later on Thursday. The BoE has faced political and financial market turmoil since its last rate rise on Sept. 22. Consumer price inflation returned to a 40-year high of 10.1% in September.

Published 3 months ago · London, United Kingdom

News Articles

More Filters

All

Left

Center

Right

Times of India

Bank of England makes biggest interest rate hike in 30 years

The central bank boosted its key rate by three-quarters of a percentage point, to 3%, after consumer price inflation returned to a 40-year high in September. The aggressive move comes as the bank foresees a “very challenging outlook" for the UK economy, expecting it “to be in recession for a prolonged period” and inflation to stay high for the next year.

3 months ago·Mumbai, India

Read Full Article

News18 India

Bank of England Set for Biggest Interest Rate Hike in 33 Years

The move would mirror aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades

3 months ago·India

Read Full Article

Reuters

Bank of England raises rates by most since 1989 even as long recession looms

The Bank of England raised interest rates by the most since 1989 on Thursday but warned investors that the risk of Britain's longest recession in at least a century means borrowing costs are likely to rise less than they expect.

3 months ago·United Kingdom

Read Full Article

The Guardian

Interest rates likely to jump as markets await Bank of England decision

Analysts believe a 0.75 percentage point rise is likely, potentially the biggest hike in the base rate since 1989

3 months ago·London, United Kingdom

Read Full Article

The Hindu

Bank of England makes biggest interest rate hike in 30 years

The U.K. central bank may opt to raise rates by as much as 1 percentage point to show it is serious about tackling inflation

3 months ago·India

Read Full Article

CBC News

Bank of England announces biggest rate hike in 30 years

The Bank of England has announced its biggest interest rate increase in three decades as it tries to beat back stubbornly high inflation fuelled by Russia's invasion of Ukraine and the disastrous economic policies of former prime minister Liz Truss.

3 months ago·Canada

Read Full Article