Bank of England raises interest rate


September 22, Fineko/ The Central Bank of England has raised the interest rate by 50 points to 2.50% to prevent rising inflation.

ABC.AZ reports that 5 members voted to increase the interest rate by 50 points, 3 members - by 75 points, and 1 member - by 25 points.

It should be noted that last month the bank also increased the interest rate by 50 points. Due to the sharp rise in inflation, the Central Bank has continued to raise interest rates since December. Bank’s reps lowered the inflation forecasts from 13% to 11%.

In August, annual inflation in the country fell to 9.9%, nevertheless, this indicator is significantly higher than the bank's target of 2%.