Bank of England raises interest rates to 3% in biggest hike since 1989
The Bank of England has raised the cost of borrowing by 0.75 percentage points to 3%, despite predicting higher interest rates would plunge the economy into its longest recession since the 1930s. In a split vote, the central bank’s monetary policy committee (MPC) voted by a 7-2 majority in favor of the biggest rate hike …
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