Bank of England raises rates to four percent
The Bank of England raised interest rates for the first time since 2023, lifting borrowing costs to four percent. Officials warned that further increases remain likely unless Middle East conflicts are resolved and energy price pressures ease.
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The United Kingdom raised interest rates by 25 basis points to 4% on Thursday afternoon, marking its first hike since 2023. The Monetary Policy Committee voted 8-1 to lift rates from 3.75%, matching expectations.
