BoE raises interest rates to 1.25%

The increase comes as the BoE has increased its inflation forecast for the year with CPI inflation expected to be over 9% during the next few months and to rise to slightly above 11% in October

The Bank of England’s (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation.

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