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Bank of England Raises Rates by 0.5 Point, Slowing Pace of Tightening
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The Bank of England raised interest rates by 0.5 percentage point to 3.5%, following the Federal Reserve in slowing the pace of increases as inflation edges lower.
The BOE’s decision follows a similar move by the Swiss National Bank on a busy day for Europe’s most influential central banks. Investors expect the European Central Bank to announce 0.5-point rate increase later Thursday. Both the BOE and the ECB have been battling all year with inflation that has spiraled to multidecade highs, partly fueled by a surge in energy prices following Russia’s invasion of Ukraine.
Read more on wsj.comAbout this in other media
ECB, BOE Raise Rates by Half a Percentage Point wsj.com /1 year ago
ECB, BOE Raise Rates by Half a Percentage Point wsj.com /1 year ago
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