https://sputnikglobe.com/20230323/bank-of-england-raises-key-rate-to-425-from-4-per-annum--1108722177.html
Bank of England Raises Key Rate to 4.25% From 4% Per Annum
Bank of England Raises Key Rate to 4.25% From 4% Per Annum
Sputnik International
The Bank of England announced on Thursday that it had increased the key rate by 0.25 percentage points, to 4.25% from 4% per annum.
2023-03-23T12:30+0000
2023-03-23T12:30+0000
2023-05-28T15:26+0000
energy crisis in europe
cost of living crisis in uk
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The UK has been facing a massive increase in inflation and cost of living crisis. The Bank of Englands previously said that the UK economy had entered a recession expected to last until the second half of 2024.
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bank of england, key rate, inflation, energy crisi in europe
bank of england, key rate, inflation, energy crisi in europe
Bank of England Raises Key Rate to 4.25% From 4% Per Annum
12:30 GMT 23.03.2023 (Updated: 15:26 GMT 28.05.2023) MOSCOW (Sputnik) - The Bank of England announced on Thursday that it had increased the key rate by 0.25 percentage points, to 4.25% from 4% per annum.
"The Bank of England's Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 22 March 2023, the MPC voted by a majority of 7–2 to increase Bank Rate by 0.25 percentage points, to 4.25%. Two members preferred to maintain Bank Rate at 4%," the regulator said in a statement.
The UK has been facing a massive increase in inflation and cost of living crisis. The Bank of Englands previously said that the UK economy had
entered a recession expected to last until the second half of 2024.
