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Evening Standard
Evening Standard
World
Jonathan Prynn

Bank of England unveils biggest interest rate rise in 27 years

Bank of England Andrew Bailey Monetary Policy MPC

The Bank of England raised interest rates by half a percentage point on Thursday in the biggest increase in the cost of borrowing for 27 years.

It is the sixth consecutive hike from the Bank’s Monetary Policy Committee (MPC) since December and lifts its key lending rate from 1.25 per cent to 1.75 per cent.

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