Economic Times · Markets
Bank of England hikes rates to 4%, first raise since 2023, says more may come amid high UK inflation
Published by Economic Times on IST
In a decisive move, the Bank of England has escalated interest rates to 4% amidst spiraling inflation, projected to hit 4.8% in Q2 next year. Governor Andrew Bailey cautioned that further hikes may be necessary, especially with ongoing global conflicts. Market reactions were notably favorable, with the British pound…
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