The Monetary Policy Committee last met on August 4 when it voted to raise the base rate from 1.25 to 1.75 per cent – the sixth consecutive rise in a row as the Bank grappled to curb the rising inflation rate.
Continue reading Interest rate rising yet againTag: Bank of England
Bank of England raises base rate to 1.25%
The Bank of England has upped the base rate for the fifth time since December as it attempts to suppress soaring inflation. The base rate has risen by 0.25 percentage points from 1 per cent to 1.25 per cent, having been previously increased from 0.1 to 1 per cent during the previous four successive rises.
Continue reading Bank of England raises base rate to 1.25%