Bank of England poised for another big interest rate hike amid inflation ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 34
Britain's central bank is under pressure make another big interest rate hike Thursday, with inflation outpacing other major economies but the U.S. Federal Reserve and other banks acting more aggressively to get prices under control. The Bank of England hiked its benchmark rate last month by half a percentage point to 1.75%, the biggest increase in 27 years, and it's expected to at least match that in its latest decision, which was delayed a week during the mourning period for Queen Elizabeth II. Faced with a slumping currency, tight labor market and inflation near its highest in four decades, officials may feel the need to act more aggressively as rising food and energy prices fuel a cost-of

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