Bank of England says UK economy coping with higher rates ...Middle East

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Bank of England says UK economy coping with higher rates
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Britain's economy is so far proving resilient to the jump in interest rates but it will take time for the full impact of the climb in borrowing costs to feed through, the Bank of England said on Wednesday. The BoE has raised rates sharply, taking them to 5% last month from 0.1% at the end of 2021, raising concerns about a hit to households, businesses and the broader financial sector which could push the economy into a recession.

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