Write For Us

Interest rate hits 'shock' 5% after 0.5 percentage point increase

Sponsored Post Vitamin D2 Canada Persia
29 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
The Bank of England has shocked economists and investors by raising interest rates half a percentage point to 5% - the highest level since 2008.

Economists had expected the Monetary Policy Committee to raise interest rates by only a quarter percentage point, but the MPC voted 7-2 for the surprise increase, explaining that it was aiming to bring higher-than-expected inflation under control and indicated concern about high wage increases and company profit margins.

It comes after the UK's official inflation rate failed to fall as expected in May, staying at 8.7% - well above the bank's 2% target.

Read more here: https://news.sky.com/story/interest-rate-hits-5-after-half-percentage-point-increase-12907372

#inflation #politics #skynews

SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews

Follow us on Twitter: https://twitter.com/skynews
Like us on Facebook: https://www.facebook.com/skynews
Follow us on Instagram: https://www.instagram.com/skynews
Follow us on TikTok: https://www.tiktok.com/@skynews

For more content go to http://news.sky.com and download our apps:
Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8
Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB

Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog

Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden: https://www.youtube.com/channel/UCHYg31l2xrF-Bj859nsOfnA

To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales
Category
World
Tags
uk inflation, inflation, inflation uk
Sign in or sign up to post comments.
Be the first to comment