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The Independent UK
The Independent UK
National
Holly Williams

Bank raises rates to 0.75% as it warns inflation could reach double figures

Bank Bank of England Monetary Policy Committee
PA Archive

The Bank of England has raised interest rates again as it warned the Ukraine conflict could see under-pressure households hit with double-digit inflation later this year.

Members of the Bank’s Monetary Policy Committee (MPC) voted eight to one to increase rates from 0.5% to 0.75%, marking the third rise in a row.

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