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The ECB raises interest rates to 3%, its highest level in 14 years, despite the easing of inflation

Summary by Ground News
The Monetary Policy Committee voted by a majority of 7-2 to increase the levels by 0.5 percentage points. UK rates are now at the highest level since October 2008, when the Bank had only just started cutting rates in response to the financial crisis. It means the UK will suffer a recession of five consecutive quarters, starting in the first three months of 2023.
Published 2 months ago

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