Bank of England sets biggest rate hike in 33 years and warns of a long recession
LondonCNN Business — The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the biggest hike in 33 years, as it tries to contain soaring inflation even as the UK economy slides towards a recession that could last two years. The central bank made its eighth interest rate hike in less than a year, taking its …
The post Bank of England sets biggest rate hike in 33 years and warns of a long recession appeared first on Egypt Independent.
Egypt Independent
November 4, 2022
Sterling has fallen after the Bank of England followed its counterparts in the US and euro zone with a hefty hike in interest rates to quell inflation, saying Britain faces … Continued
