Interest rates see biggest hike in 27 years

Sky News published this video item, entitled “Interest rates see biggest hike in 27 years” – below is their description.

Economist Jagjit Chadha says the rise in interest rates to 1.75% is part of a “return to normality”.

The rate has been raised by 0.5 percentage points, as the Bank of England seeks to rein in accelerating inflation.

Sky News YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


About This Source - Sky News

Sky News is a British free-to-air television news channel and organisation. Sky News is distributed via a radio news service, and through online channels. It is owned by Sky Group, a division of Comcast. John Ryley is the head of Sky News, a role he has held since June 2006.

Recent from Sky News:

Has Liz Truss lost authority?

Union warns of a ‘winter of rail misery’

Iran: Protests ‘stepping up’ over Mahsa Amini death

In This Story: Bank of England

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.

4 Recent Items: Bank of England

Will the British Government avoid a financial calamity? | 7.30

BREAKING: Truss refuses to say whether she trusts chancellor

‘Bloomberg Surveillance: Early Edition’ Full (10/03/22)

How Kwasi Kwarteng’s ‘mini-budget’ has had a big impact

In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

1 Recent Items: Inflation

The market’s ‘silver lining’ may be a less aggressive Fed amid recession concerns: Strategist

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.