The Bank's monetary policy committee announced the decision yesterday in a bid to temper rising inflation and tackle poor economic growth. This is the fifth rise in a row and takes the base interest rate from 1 per cent to 1.25 per cent.
Inflation jumped to 9 per cent in the 12 months up to April, a rise of 2 per cent from March. Higher fuel and food prices, driven by the war in Ukraine, have also been pushing up the cost of living.
"The scale, pace and timing of any further increases in bank rate will reflect the committee's assessment of the economic outlook and inflationary pressures," the BoE said in a statement. "The committee will be particularly alert to indications of more persistent inflationary pressures, and will if necessary act forcefully in response."
Diese Geschichte stammt aus der June 17, 2022-Ausgabe von The Independent.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 17, 2022-Ausgabe von The Independent.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Next posts rise in sales but warns of difficult year ahead
UK retail outlet Next has posted another rise in sales ahead of expectations over the Christmas period, but warned that a price increase is on the cards for 2025 as it looks to overcome raised costs following last year's Budget.
Carney failed to stop Brexit but hopes to save Canada
Mark Carney may enter the race to succeed Justin Trudeau as leader of Canada's Liberal Party.
Trump fails to rule out use of force to take Greenland
US president-elect Donald Trump has refused to rule out using military or economic action to pursue acquisition of the Panama Canal and Greenland.
At least 126 dead in Tibet after powerful earthquake
A powerful 7.1-magnitude earthquake struck the foothills of the Himalayas yesterday near one of Tibet’s holiest cities, killing at least 126 people and flattening hundreds of houses and causing tremors felt in Nepal, Bhutan and India.
Far-right firebrand's ghost will loom large over Europe
The death of Jean-Marie Le Pen should give us a moment to ponder the long march of the French far right and the rise to power of fascistic parties across Europe.
French far-right political leader Le Pen dies at 96
Unrepentant bigot and Holocaust denier Jean-Marie Le Pen founded the National Front and fought for populist policies
Study debunks 'paleo diet' myth of hunter-gatherers
Ancient hunter-gatherers relied heavily on plant foods, particularly starchy plants, as a major energy source contrary to the popular belief that ancient human “paleo” diets were mainly meat-based.
Meta to end fact-checking on Facebook and Instagram
Meta is to scrap its longstanding fact-checking programme in favour of a community notes system similar to that on Elon Musk’s social media platform, X.
Schoolboy, 14, stabbed todeath on bus in London
A 14-year-old schoolboy has been stabbed to death on a bus in southeast London, the Metropolitan Police said.
Snow on way as more than 100 flood warnings active
A weather warning for snow has been issued for London as the UK is set to see temperatures plunge to as low as 16C this week, adding to disruption with more than 100 flood warnings already in force.
