Bank of England Hikes Rate by 50 Basis Points

Posted on 09/23/2022

On September 22, 2022, the Bank of England voted to increase its base rate to 2.25% from 1.75%. This is lower than the 0.75 percentage point increase that had been expected by many traders. The Bank of England believes the U.K. economy was already in a recession. Inflation in the U.K. dipped slightly in August…

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