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Insider UK
Insider UK
Business
Peter A Walker

Bank of England hikes interest rates to 1.25%

The Bank of England has raised its interest base rate to the highest point since the start of 2009, as the cost of living continues to soar.

The Monetary Policy Committee (MPC) set the rate at 1.25% - up from 1% previously - and the fifth increase in a row as it tries to tame runaway inflation.

It also warned that prices for households across the country might increase even further than previously thought.

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