Today news
About the same in other media
22.12 - 18:07
Bank of England raises interest rates to 0.25%
Reading now: 213
The Bank of England has raised interest rates for the first time since the start of the coronavirus pandemic despite mounting concern over the Omicron variant.
Threadneedle Street’s monetary policy committee (MPC) voted to raise rates from the historic low of 0.1% to 0.25%, judging that pressure from surging inflation outweighed the risks to the economy from the new variant.
Official figures showed inflation hit 5.1% in November amid soaring energy prices and global supply chain bottlenecks, hitting a rate the Bank hadn’t expected to be reached until the spring. The MPC has an official inflation target of 2%.
However, the rate rise comes amid a severe deterioration in the economic outlook as the Omicron variant triggers a collapse in consumer
Read more on theguardian.comAbout this in other media
BNP Paribas agrees to $16.3bn sale of Bank of the West to BMO Financial Group fnlondon.com /2 years ago
Bank of Montreal in talks to acquire BNP Paribas’ Bank of the West fnlondon.com /2 years ago
Interest rate rise sends the wrong message in difficult times theguardian.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.
