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    Russian missile strike on apartment block in Odessa kills at least ten Ukrainians

    Fleeing Snake Island is just the latest defeat for Russia in Ukraine

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Bank of England raises key interest rate to 0.25%

admin by admin
December 16, 2021
Reading Time: 1 min read
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Bank of England raises key interest rate to 0.25%


RELATED POSTS

Germany records first monthly trade deficit since 1991 as import costs soar

Central banks should keep their cool on inflation

Nato’s revival: will the resolve withstand an economic crisis?

The Bank of England raised interest rates from 0.1 percent to 0.25 percent, the first increase in more than three years.

The financial markets surprised on Thursday for the second month in a row and voted 8: 1 for higher interest rates. The bank’s monetary policy committee decided it couldn’t wait any longer to cut spending in the economy.

The BoE said the strength of the economy meant the conditions for a rate hike were in place and Omicron’s inflation impact was “unclear at this point.”

She added that she expects UK inflation to climb to around 6 percent in the spring.



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