The Bank of England is widely expected to raise its interest rates for a fifth policy session in a row on Thursday amid soaring inflation that is fueling further rise in cost of living and severely hurting consumer confidence.
The Monetary Policy Committee, led by Governor Andrew Bailey, is widely expected to hike the bank rate by 25 basis points to 1.25 percent, the highest level since 2009. The bank has raised the rate by a total 90 basis points since December 2021.
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by Jyotsna V
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