oh Bank of England (Central Bank of England) hiked interest rate this Thursday (Dec.15, 2022) UK By 0.5 percentage point, it lifted the index to 3.5% 🇧🇷The highest in the country in 14 years. Here it is Full In press release (223 KB, in English).
This is the 9th consecutive rate hike. The objective is to contain the rise in inflation from 10.7% in November and reach the inflation target of 2%. In October, the code was in place 11.1%, the highest recorded since 1981🇧🇷 Action also seeks to help “Sustainable Development and Employment”, According to the Finance Commission report.
Despite the highs, Britain’s Monetary Policy Committee, which is responsible for the change, said new highs could occur.
“If the economy evolves broadly in line with the projections in the November Monetary Policy Statement, further Bank rate hikes may be necessary to sustain inflation back to target,” the panel’s majority verdict said. The group said.
The unemployment rate rose slightly to 3.7% in October. The value of gas is high, “Reflects concerns about the impact of Russian restrictions on gas supplies and the expectation that supply restrictions will continue into next winter.”
The Bank of England said in November that the country would enter “The Long Depression”In addition to predicting fall 0.3% of Gross Domestic Product (GDP) in the last quarter of 2022.
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