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Evening Standard
Evening Standard
Business
Simon English

Bank of England poised to ramp up interest rates as inflation bites

Bank of England Inflation Interest Rates Recession US Federal Reserve

Interest rates are expected to be hiked once again on Thursday to their highest level for 13 years as the Bank of England battles to cool rocketing inflation (Yui Mok/PA)

(Picture: PA Wire)

TWITCHY central banks are poised to aggressively hike interest rates this week in a bid to combat soaring inflation, but they risk plunging already wobbly economies into recession say experts.

Both the US Federal Reserve and the Bank of England are expected to put rates up this week, with more increases to follow.

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