LONDON (Reuters) – The Bank of England raised interest rates to 0.5% on Thursday, with about half of its monetary policy committee wanting a bigger hike to contain price pressures, as the bank warned that inflation would soon exceed 7%.
A majority of the MPC members voted to raise rates by 0.25 percentage points.
The move comes on the heels of the December rate hike, the first two consecutive rate hikes since 2004, and reflects the urgent desire of policy makers to show they have control of the rising cost of living crisis.
The Kremlin assessed the impact of arms supplies to Kyiv on the situation at the front
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