Bank of England raises interest rates by 0.5% to 3.5%

At a meeting held on 14 December 2022, the Bank’s MPC voted by a majority of 6-3 to increase rates by 0.5 percentage points

The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 3.5%, the highest level in 14 years. 

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