Bank of England set for fifth straight rate hike as growth and the pound wobble

Bank of England set for fifth straight rate hike as growth and the pound wobble

• At its May meeting, the Bank raised its base rate by 25 basis points to 1%, its highest level for 13 years, but warned that the British economy risks falling into recession.
• U.K. inflation soared to a 40-year high of 9% annually in April as food and energy prices spiraled, and the country faces a major cost of living crisis.

https://www.cnbc.com/2022/06/15/bank-of-england-set-for-fifth-straight-rate-hike-as-growth-and-the-pound-wobble.html