Bank of England raises discount rate

17:20 - 5.05.2022

May 5, Fineko/abc.az. Bank of England has made a decision on the discount rate.

The bank raised the discount rate by 0.25 points, ABC.AZ reports with reference to the foreign media.

After that, the discount rate was reduced from 0.75% to 1%. For comparison, this means a 4% increase after last December.

Currently, Bank of England’s discount rate is the highest since 2009. The bank links this with a sharp increase in inflationary pressure at the global level after Russia's military operation in Ukraine.

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