Bank of England hikes rate 14th time in row | The Malaysian Insight

Bank of England hikes rate 14th time in row

The Bank of England raises its key interest rate by a quarter-point to 5.25%, the highest level since the global financial crisis in 2008. – EPA pic, August 3, 2023.

THE Bank of England today hiked its key interest rate for a 14th time in a row, by a quarter-point to 5.25% as UK inflation stays high, prolonging a cost-of-living crisis. Policymakers “will continue to monitor closely indications of persistent inflationary pressures”, BOE said in a statement following a regular meeting that sent borrowing costs to the highest level in more than 15 years.

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