scorecardresearchBank of England Set for Biggest Interest Rate Rise in 27 Years

Bank of England Set for Biggest Interest Rate Rise in 27 Years

Updated: 01 Aug 2022, 11:32 AM IST
TL;DR.
The Bank of England this week is expected to push through the biggest interest-rate increase in 27 years and unveil its strategy for unwinding some of the £895 billion ($1.1 trillion) of stimulus it delivered over the past decade.
FILE - People walk outside the Bank of England, in the financial district known as The City, in London, Thursday, June 16, 2022. U.K. inflation accelerated to a new 40-year high in June, driven by rising food and fuel prices. Bank of England Governor Andrew Bailey said Tuesday, July 19, 2022, that the bank is likely to consider raising interest rates by 0.5 percentage points at its next meeting to help control inflation. (AP Photo/Alberto Pezzali, File)

FILE - People walk outside the Bank of England, in the financial district known as The City, in London, Thursday, June 16, 2022. U.K. inflation accelerated to a new 40-year high in June, driven by rising food and fuel prices. Bank of England Governor Andrew Bailey said Tuesday, July 19, 2022, that the bank is likely to consider raising interest rates by 0.5 percentage points at its next meeting to help control inflation. (AP Photo/Alberto Pezzali, File)