Bank of England set to raise UK interest rates to highest level since 2008

Bank of England set to raise UK interest rates to highest level since 2008

SeattlePI.com

Published

The Bank of England is set to raise interest rates to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. Financial markets expect the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5% on Thursday. That would be the 12th straight increase. Other major central banks including the U.S. Federal Reserve and the European Central Bank have also been raising interest rates at a fast pace in order to get inflation rates down from multi-decade highs.

Full Article