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Bank of England lifts interest rate to 14-year high
Bank of England lifts interest rate to 14-year high
Business and Economy
by  AFP

The Bank of England on Thursday hiked its interest rate by half a point to 3.5 percent, the highest level in 14 years, in a bid to cool sky-high inflation. Paul Dales, chief UK economist at Capital Economics, said on Thursday that he expected the BoE to keep on hiking up to a peak of 4.5 percent early next year, as inflation remains at historically-high levels. bcp/rfj/raz