Bank of England Raises Interest Rate to 1.25 Percent

Posted on 06/17/2022

On June 16, 2022, the Bank of England implemented a fifth consecutive hike to interest rates. The Bank of England is trying to stop rampant inflation. The Monetary Policy Committee voted 6 to 3 to increase the Bank Rate by 25 basis points to 1.25%, with the three dissenting members voting for a 50 basis…

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