The Bank of England has announced its biggest interest rate increase in three decades as it tries to beat back stubbornly high inflation fuelled by Russia's invasion of Ukraine and the disastrous economic policies of former prime minister Liz Truss, SIA reports, citing foreign media.
The central bank has boosted its key rate by three-quarters of a percentage point Thursday, to three per cent, after consumer price inflation returned to a 40-year high in September. The aggressive move was expected after a more cautious half-point hike six weeks ago and comes as the bank sees a "very challenging outlook" for the U.K. economy.
"High energy, food and other bills are hitting people hard. Households have less to spend on other things. This has meant that the size of the U.K. economy has started to fall," the bank said in its November monetary policy report.
In its latest projections, the bank expects the country "to be in recession for a prolonged period" and inflation to stay above 10 per cent in the near term.
Bütün xəbərlər Facebook səhifəmizdə
.jpg)
.jpg)
USD
EUR
GBP
RUB
