< Arab Finance - News - Bank of England ups interest rates by 75 bps

Market is closed

EGX 30 0.00 0.00%

Count Down to relaunch



Bank of England ups interest rates by 75 bps

Bank of England ups interest rates by 75 bps

Arab Finance: The Bank of England’s Monetary Policy Committee (MPC) decided to raise interest rates by 75 basis points (bps) to 3%, according to a press release on November 3rd.

The MPC commented that the uncertain outlook for the UK’s energy prices fell relatively due to government intervention.

The committee noted that the inflation consumer price index (CPI) hit 10.1% in September and expected it to reach 11% during the fourth quarter (Q4) of 2022.

MPC also anticipated the UK’s GDP to decline by 0.75% in the second half (H2) of 2022, and to continue the falling trajectory until H1 2024.

On November 2nd, the Federal Reserve’s (Fed) Federal Open Market Committee (FOMC) increased interest rates by 75 basis points (bps) for the fourth time in 2022.

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
25.18
Change
03.2
Hold

All rights reserved to Arab Finance 2020 ©

Back to top