Economic Buzz: Bank Of England Raises Interest Rate By 50 Basis Points

4 Aug 2022 , 05:28 PM

The Bank of England raised interest rates by half a percentage point on Thursday in the biggest increase in the cost of borrowing for 27 years. This is the sixth consecutive hike from the Banks Monetary Policy Committee (MPC) since December and pushed up its key lending rate from 1.25% to 1.75%.Powered by Commodity Insights