Bank of England raises its key interest rate to 3.5% from 3%

Bank of England raises its key interest rate to 3.5% from 3% – Bank of England increased its key interest rate to 3.5% from 3% which is the 9th rate rise in a row as the Bank tries to speed inflation’s return to target after price growth hit a 41-year high in October 2022. The Bank of England’s Monetary Policy Committee voted 6-3 in favor of the move.

• The decision follows the U.S. Federal Reserve’s decision on Wednesday to raise its main rate by half a point.

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