Bank of England Raises Interest Rates for the First Time Since 2023
Qiyas summary
Bank of England raises interest rates amid high inflation expectations
Translated by Qiyas from الراي — Original source
Reuters – The Bank of England raised interest rates for the first time in more than three years, signaling the possibility of at least one further increase if the conflict between the United States and Iran continues, a move in line with the path already taken by other major central banks.
It projected that UK inflation would reach around 5% by mid-next year, more than double the central bank’s target, dealing a blow to newly appointed Prime Minister Andy Burnham, who is seeking to ease cost-of-living pressures.
