Article 6DGKV Bank of England poised to raise UK interest rates to 5.25%

Bank of England poised to raise UK interest rates to 5.25%

by
Phillip Inman
from Economics | The Guardian on (#6DGKV)

Fears remain over stubborn inflation but slowing economy likely to fuel more cautious approach from rate-setters, say analysts

The Bank of England is poised to push interest rates to 5.25% on Thursday as it tries to bring down inflation with a 14th consecutive increase in the cost of borrowing.

Amid government concerns that cost of living pressures are proving persistent, the Bank is likely to push rates up by 0.25 percentage points to a fresh 15-year high.

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