Bank Of England hikes interest rates to 13-year high

Updated: May 06, 2022, 02:58 PM(IST) WION Video Team

The Bank of England’s policymakers are expected to increase interest rates from 0.75% to 1%, a level not seen since 2009. The Bank expects UK inflation to rise to roughly 10% this year as a result of the Russia-Ukraine war and lockdowns in China.

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