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Bank of England set to raise UK interest rates to highest level since 2008
The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. Financial markets expect the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5%, its 12th straight increase. Other major central banks, such as the U.S. Federal Reserve and the European Central Bank, have also been raising interest rates at a consistent pace in order to get inflation rates down from multi-decade highs. The Bank of England started raising interest rates in late 2021 ... (full story)
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