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Bank Of England Hikes Rate By 75 Bps

Por: RTTNews Business November 03, 2022

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The Bank of England raised its benchmark rate by 75 basis points on Thursday, which was the biggest increase since 1989.The nine-member Monetary Policy Committee decided to raise the bank rate to 3.00 percent from 2.25 percent. The rate is currently the highest since November 2008.The announcement came after the U.S. Federal Reserve lifted its benchmark rate by 75 bps for the fourth straight meeting on Wednesday. Nonetheless, the Fed signaled... + full article



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