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The Independent UK
The Independent UK
National
Archie Mitchell

Bank of England hikes interest rates for 14th consecutive time despite inflation slowdown

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Rishi Sunak is on course to meet his inflation target but the UK faces years of higher mortgage rates and a flatlining economy until 2026, the Bank of England warned on Thursday.

As it pushed interest rates to a fresh 15-year high, the Bank forecast the economy will stagnate for the next three years, when GDP will increase by just 1 per cent.

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