Bank of England Raises Interest Rate to 4pc Amid Inflation
The Bank of England raised its benchmark interest rate by 0.25 percentage points to four per cent, marking its first increase since August 2023. The move aims to contain inflation ...
The Bank of England raised its benchmark interest rate by 0.25 percentage points to four per cent, marking its first increase since August 2023. The move aims to contain inflation driven by rising energy costs linked to the Middle East conflict. Governor Andrew Bailey warned further increases could follow if the conflict continues, while the bank upgraded its UK economic growth forecasts for 2026 and 2027.
Syeda Mubeena Hashmi
JournalistStaff correspondent covering World and national affairs for Pakistan Times Today.
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