Bank of England hikes interest rates to 3% in biggest rise since 1989

[AJBot]

Bank fears 0.75 percentage point rise may push UK economy into longer and deeper recession than the 1930sUK in ‘prolonged recession’, Bank says – Business liveAnalysis: Bank signals rates probably won’t go much higherThe Bank of England has increased the cost of borrowing by 0.75 percentage points – to 3%, despite predicting that higher interest rates would push the economy into the longest recession since the 1930s.In a split vote, the central bank’s monetary policy committee (MPC) voted by a 7-2 majority for the biggest increase in rates since 1989 to combat an inflation rate tha ...

Continue reading the above news article, by clicking here.

Administration and Moderation NOTE: A Reminder, the above news is provided for free, through a RSS Feed. The above quote does NOT include the full story. In order to continue to read more past what is quoted, please click through to the article, by clicking on the link provided above through the "continue reading" text.

Please be sensible and follow our terms of service and rules, when replying and debating the news article.