Bank of England raises rates by most in 25 years even as long recession looms

Updated: Aug 05, 2022, 12:08 PM(IST) WION Video Team

The Bank of England (BoE) raised interest rates by the most in 25 years on August 4, despite warning that a long recession is on its way. It has raised the interest rates by 0.5 points also known as 50 basis points, highest interest rate rise since 1997 amid looming recession.

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