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Bank of England tipped for biggest interest rate hike in 27 years as inflation soars
The Bank of England on Thursday is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995. Such a move would take borrowing costs to 1.75% as the central bank battles soaring inflation and would be the first half-point hike since it was made independent from the British government in 1997. U.K. inflation hit a new 40-year high of 9.4% in June as food and energy prices continued to surge, deepening the country’s historic cost-of-living crisis. Bank of England Governor Andrew Bailey suggested in a hawkish speech on July 19 that the Monetary Policy Committee could consider a ... (full story)
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- Aug 3, 2022 9:23am Aug 3, 2022 9:23am
- NewtonsCash
- Joined Mar 2014 | Status: Member | 2586 Comments
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- Aug 3, 2022 2:04pm Aug 3, 2022 2:04pm
- turnip15
- Joined Sep 2006 | Status: Member | 576 Comments | Online Now
every Saint has a past. Every Sinner has a Future
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- Aug 4, 2022 3:32pm Aug 4, 2022 3:32pm
- UKBanter
- | Joined Mar 2017 | Status: Member | 938 Comments
The elites think we are stupid. They are in the main quite correct.