The Bank of England raised its key interest rate for the first time since 2018, despite the new variant of coronavirus Omicron posing downside risks to economic activity.
The Monetary Policy decided to lift its key rate by 0.15 percentage points to 0.25 percent from a record low of 0.10 percent. This was the first rate hike since August 2018.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.