BoE hikes rates by 50 basis points

The Bank of England hiked interest rates by 50 basis points to 2.25% on Thursday as it looks to combat surging inflation.

This follows a 50 basis points increase last month, which was the biggest in 27 years.

Among the nine rate setters, five voted to raise rates by 50 basis points, three by 75bps and one opted for a 25bps hike.

–More to follow–

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