Post by sevenofnine on Aug 3, 2023 10:58:52 GMT -5
Well it official Bank of England did it in last couple hrs
The Bank of England raised on Thursday its main interest rate to 5.25%, the highest in 15 years, as the country strives to control persistently high inflation.
The interest rate was increased by a quarter-percentage point, as anticipated by many economists. The hike was the bank's 14th in a row.
Policymakers "will continue to monitor closely indications of persistent inflationary pressures," the bank said in a statement following a regular meeting.
Both the Sterling Pound and British government bond yields slightly dropped, while stocks rose, the Reuters news agency reported.
"If we stick to the plan, the bank forecasts inflation will be below three percent in a year's time without the economy falling into a recession," said Finance Minister Jeremy Hunt, in a statement after the latest hike. "But that doesn't mean it's easy for families facing higher mortgage bills so we will continue to do what we can to help households."
www.dw.com/en/bank-of-england-raises-interest-rate-to-15-year-high/a-66429828
The Bank of England raised on Thursday its main interest rate to 5.25%, the highest in 15 years, as the country strives to control persistently high inflation.
The interest rate was increased by a quarter-percentage point, as anticipated by many economists. The hike was the bank's 14th in a row.
Policymakers "will continue to monitor closely indications of persistent inflationary pressures," the bank said in a statement following a regular meeting.
Both the Sterling Pound and British government bond yields slightly dropped, while stocks rose, the Reuters news agency reported.
"If we stick to the plan, the bank forecasts inflation will be below three percent in a year's time without the economy falling into a recession," said Finance Minister Jeremy Hunt, in a statement after the latest hike. "But that doesn't mean it's easy for families facing higher mortgage bills so we will continue to do what we can to help households."
www.dw.com/en/bank-of-england-raises-interest-rate-to-15-year-high/a-66429828
!!
