BOE Hikes Rates, Warns of Rising Inflation

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• Bank of England Raises Rates for First Time in Three Yearsnytimes.com · cred 5/10

  The central bank said that inflation would climb to about 5 percent next year, far above its target, because of higher energy prices driven by the war in Iran.

  • · Bank of England raised interest rates for the first time in three years.
  • · Inflation is projected to reach about 5 percent next year.

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• BOE Hikes Rates, Warns of Rising Inflationbloomberg.com · cred 5/10

  The Bank of England raised interest rates by a quarter point to 4%, while warning inflation is on track to hit almost 5% next year and signaling another hike is on the cards. Bloomberg's Caroline Hepker reports. (Source: Bloomberg)

  • · The Bank of England raised interest rates by a quarter point to 4%
  • · Inflation is on track to hit almost 5% next year
• BOE Rate Hike a ‘Big One and Done,” Says BNY’s Yubloomberg.com · cred 5/10

  “Probably it’s an insurance move,” says Geoffrey Yu, senior market strategist at BNY, as the Bank of England voted 8-1 to raise rates by a quarter point. He sees the messaging “not envisaging further moves” by the central bank’s Monetary Policy Committee. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)

  • · Bank of England voted 8-1 to raise rates by a quarter point.
  • · Geoffrey Yu, senior market strategist at BNY, commented on the rate hike.

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