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Bank of England warns of recession in the UK, hikes interest rates to 1%
short by Pragya Swastik / on 05 May 2022,Thursday
The Bank of England on Thursday raised the interest rates by 25 bps to 1%, the highest since 2009. The move is aimed at countering the inflation that's now heading above 10%. The Bank of England also sent a warning that the UK economy risks sliding into recession later this year amid higher energy prices pushing inflation.
short by Pragya Swastik / 05:10 pm on 05 May
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