Interest rates set to hit 1.25% as Bank tries to curb inflation - The Times

Interest rates will rise today for the fifth time in a row to 1.25 per cent amid calls for Boris Johnson to level with the public about the cost of living crisis.

The Bank of England is expected to increase rates by 0.25 percentage points from what was already a 13-year high as it seeks to rein in inflation. The Federal Reserve, America’s central bank, went further yesterday, increasing interest rates by 0.75 percentage points, the sharpest rise since 1994.

The prime minister has attempted to strike an optimistic note, saying recently that Britain is in a much better position to deal with inflation than it was in the past.

Lord King of Lothbury, a former governor of the Bank of England, said that the

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2022-06-15 21:30:00Z
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