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Evening Standard
Evening Standard
Business
Simon English

Interest rates could jump by half a percent as inflation has economy ‘in a chokehold’

Bank

Bank of England Governor Andrew Bailey: under pressure

(Picture: PA Wire)

THE CHANCES of the Bank of England shoving up borrowing costs at the fastest pace since 1995 grew today when inflation again topped City expectations.

Economists say the Bank could increase rates by 0.5 percentage points at its next rate-setting meeting in March – a quarter point rise is far more usual.

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