Breaking news: Bank of England raises interest rate at fastest rate in 27 years to 1.75%
The Bank of England finally made the decision to accelerate the rate hike by 50 basis points to 1.75% and thus fight the runaway inflation despite the siren song indicating an economic recession Arrived shortly due to a significant depression in domestic demand.
In this way the Bank of England is second only to the US Federal Reserve to place aggressive interest rate increases and put inflation as a fundamental point in the bank’s monetary policy.
Now we will have to wait to see how rising interest rates in the UK affect domestic demand at a time when the economic recession is imminent due to the erosion of domestic demand and spending by families at this time.
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