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Evening Standard
Evening Standard
World
Jonathan Prynn

Bank of England raises interest rate by 0.25% to highest level since 2008

Bank of England

Millions of homeowners were hit by yet another hike in mortgage bills on Thursday as the Bank of England increased its benchmark interest rate by a quarter of a point to 4.5 per cent.

The Bank’s move - the 12th consecutive rise in the cost of borrowing since December 2021 - lifts its rate to its highest level in more than 14 years.

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