UK Business

why the Bank of England has increased rates again and what to expect next

Written by Francesc Rodriguez-Tous, Lecturer in Banking, City, University of London

The Bank of England has increased UK interest rates by 0.75%, the biggest increase in 30 years. A year ago the interest rate was 0.1%, today it is 3%.

While the speed of the increase is certainly surprising by historical standards, the actual level of interest rate is not: before the 2008 global financial crisis, we would need to go all the way bac...

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