Bank of England raises interest rate for first time in 3 years

Home

China

World

Politics

Business

Sci-Tech

Health

Opinions

Video

Live

Radio

World Asia-Pacific Middle East Europe Americas Africa

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser.

I agree

The Bank of England (BoE) raised its benchmark interest rate to 4% on Thursday, the first increase in more than three years, as soaring energy costs push up global inflation.

"There is now enough inflationary pressure in the pipeline caused by the rise in energy prices that an increase in Bank Rate is warranted," BoE governor Andrew Bailey said in a statement.

Source(s): AFP

Open in CGTN APP for better experience

Search Trends