Inflation-fighting Bank of England set for 12th straight interest rate hike
Edited By WION Video Desk
Published: May 10, 2023, 22:20 IST | Updated: May 10, 2023, 22:20 IST
The Bank of England is forecast Thursday to deliver its twelfth straight interest rate hike as it seeks to dampen high inflation but risks worsening a cost-of-living crisis. It is expected to lift the key rate by 25 basis points to 4.5 percent, matching the previous March hike and taking borrowing costs to a level last seen in 2008 during the early stages of the global financial crisis.
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