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Bank of England expected to impose back-to-back rate hikes for the first time since 2004
Economists expect the Bank of England to hike interest rates consecutively for the first time since 2004 as the central bank looks to steer the U.K. economy through persistent high inflation. The Bank fired the starting gun on rate rises in December, hiking its main interest rate to 0.25% from its historic low of 0.1%. Since then, data has shown U.K. inflation soared to a 30-year high in December as higher energy costs, resurgent demand and supply chain issues continued to drive up consumer prices. The December rate hike came despite the omicron Covid-19 variant spreading rapidly throughout the U.K. and threatening ... (full story)
