Today news
About the same in other media
Bank of England announces rate hike from pandemic-era lows
Reading now: 482
cnbc.comLONDON — The Bank of England on Thursday hiked interest rates for the first time since the onset of the pandemic, increasing its main interest rate to 0.25% from its historic low of 0.1% as inflation pressures mount.
U.K. inflation hit a 10-year high in November as the Consumer Price Index rose by an annual 5.1%, up from 4.2% in October and well above the central bank's target of 2%. The Bank now expects inflation to remain at around 5% through the majority of the winter period, peaking at around 6% in April 2022%.
Meanwhile, the labor market recovery has remained robust, with 257,000 staff added to payrolls in November, even after the end of the country's furlough scheme.
After the Bank surprised markets by avoiding a rate hike in
Read more on cnbc.comAbout this in other media
Formula Drift Pro Driver, Matt Field Collaborates With Cyborg Ape Dynasty For An Exciting Giveaway cryptonews.com /2 years ago
NFT-collateralized Loan Platform Arcade Raises $15M in Series A Financing blockchain.news /2 years ago
European Banks Prepare for Pullback in ECB Stimulus wsj.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
