The rate, which had been expected to edge lower in May, shows that Britain’s cost-of-living persists, and is likely to prompt the Bank of England to raise interest rates again.
Tag: Bank of England
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Rishi Sunak Is Still Haunted by Boris Johnson and Liz Truss
Boris Johnson’s misadventures still make headlines, but Prime Minister Rishi Sunak’s bigger problem is high inflation and soaring bond yields reminiscent of those that toppled Liz Truss.
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Bank of England Raises Interest Rates to 4.5%, Highest Level in 15 Years
The central bank lifted its benchmark rate a quarter point, to 4.5 percent, as part of its aggressive policy to tame inflation, which has remained stubbornly high.
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European Central Bank Raises Rates Again, but Only a Quarter Point
The bank said “underlying price pressures remain strong” in the eurozone, where the annual inflation rate reached 7 percent last month.