Guardian News published this video item, entitled “Bank of England lifts inflation and growth forecasts as it raises interest rates to 4.5%” – below is their description. The Bank of England has raised interest rates by a quarter of a point to 4.5% as it forecast inflation would stay higher for longer than previously expected and the economy would perform more strongly. Subscribe to Guardian Football ► http://is.gd/GuardianFootballThe Bank’s monetary policy committee (MPC) voted by a majority for a 12th successive increase in borrowing costs, continuing its most aggressive rate-hiking cycle since the 1980s in an attempt to dampen UK inflation, which remains in double digits. UK rates are at the highest level since October 2008, when the global economy was in the grips of the financial crisis. Contribute to The Guardian today ► https://bit.ly/3uhA7zgSign up to the Guardian’s free new daily newsletter, First Edition ► http://theguardian.com/first-editionWebsite ► https://www.theguardian.comFacebook ►https://www.facebook.com/theguardianTwitter ► https://twitter.com/guardianInstagram ► https://instagram.com/guardianThe Guardian on YouTube:The Guardian ► https://bit.ly/guardiannewssubsGuardian News ► https://bit.ly/guardiannewssubsGuardian Australia ► https://bit.ly/guardianaussubsGuardian Sport ► https://bit.ly/gdnsportsubsGuardian Live ► https://bit.ly/guardianlivesubs#AndrewBailey #BankOfEngland #InterestRate #Inflation #CostOfLiving #UK #NewsGuardian News YouTube Channel

Source: The Guardian May 11, 2023 14:30 UTC