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Bank of England raises interest rates to 5.25%
05:04
Europe
Bank of England raises interest rates to 5.25%
The Bank of England has raised its interest rates for a fourteenth consecutive period. Its monetary policy committee increased its benchmark lending rate by 25 basis points to 5.25%, taking it to a 15-year high. It comes as policymakers continue to tackle sticky inflation. Consumer prices in the UK eased to 7.9% in June, almost four times higher than the Bank of England's target of 2%.
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