Wall Street

Inflation-fighting BoE poised to unleash big rate hike

Published by
The Bangkok Post

LONDON: The Bank of England is expected Thursday to follow other major central banks with an aggressive interest rate hike to tackle surging inflation. The BoE is tipped to lift its main rate by 0.50 percentage points — the biggest amount in more than a quarter of a century. British inflation jumped to a four-decade high of 9.4% in June, worsening a cost-of-living crisis as workers’ wages fail to keep pace. With inflation spiking globally following Russia’s invasion of Ukraine, the US Federal Reserve and the European Central Bank sprang large hikes last month of 0.75 and 0.50 percentage points…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street