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22.11 - 20:41
Bank of England Raises Key Interest Rate by 0.75 Point
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The Bank of England raised its key interest rate by 0.75 percentage point on Thursday, its largest rise since 1989, as it fights a surge in inflation from rising energy prices even as the U.K. economy slides into an expected recession.
The central bank raised its benchmark lending rate to 3% from 2.25%, taking it to the highest level since November 2008. Higher borrowing costs will hurt an already weak economy as consumers brace for a difficult winter of falling real incomes and rising prices.
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Bank of England Raises Key Interest Rate by 0.75 Point wsj.com /2 years ago
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