The Bank of England delivered the biggest interest rate hike in 33 years on Thursday, joining its global peers in aggressive tightening to bring inflation down from double-digits, even as the U.K. economy is forecast to remain in a prolonged recession.
The nine-member Monetary Policy Committee decided to raise the bank rate by 75 basis points to 3.00 percent from 2.25 percent.
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by Renju Jaya
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