Bank of England raises interest rates to 1.75% and warns of long recession - The Times

The Bank of England has raised interest rates by half a percentage point to 1.75 per cent, the biggest rise since 1995, in an attempt to combat runaway inflation.

Britain is heading for a protracted recession as inflation surges above 13 per cent, causing the worst squeeze on living standards for more than 60 years, the Bank of England has warned. In a drasti… [+499 chars]

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