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The Bank of England raised its interest rate the biggest since 2008. ATN News

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the Bank of England It raised interest rates by 0.5%, the most significant increase since 2008.

The base rate has been revised up from 1.75% to 2.25%, a sharp increase after the last ascent in August of this year.

Monetary Policy Committee The MPC said, “As always, the Committee will consider and decide the bank’s interest rate level at each meeting.

“The magnitude, rhythm and duration of any change The additions in the bank’s interest rates will reflect the Committee’s assessment of economic prospects and inflationary pressures.

“If the trend suggests more sustained inflation pressures. including from stronger demand The Committee will respond vigorously as necessary.”

A pedestrian walks past the Bank of England in London. Picture: AP Photo/Kirsty Wigglesworth.

since August Wholesale gas prices are highly volatile and move strongly in the financial markets.

Government bond yields have been rising rapidly around the world. meanwhile Sterling silver has also weakened in recent months.

Millions of people across the UK are facing one of the worst cost-of-living crises in history, with rising food, electricity, water and gas prices.

last week More than 140 groceries of various values ​​were reported to be more expensive at UK supermarkets in August. which is the current maximum increase

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