Bank of England boosts interest rates amid 10% inflation
The Bank of England cautioned that the cost-of-living issue might send the economy into recession this year, as it raised interest rates to combat skyrocketing inflation, which is forecast to exceed 10% in the coming months. Threadneedle Street’s monetary policy committee (MPC) voted unanimously to raise the base rate from 0.75 percent to 1 percent, … Read more