Bank of England raises key rate to 5.25% – Kommersant

Bank of England 14th consecutive time raised bank rate, trying to cope with rising inflation in the country. This time, the key rate was raised by 0.25%, and now loans will cost commercial banks 5.25% per annum. This is the highest level since February 2008.

The Central Bank explained its decision by the fact that although inflation is falling, it remains well above the target of 2%. According to the results of June, it amounted to 7.9%, and by the end of the year, according to the forecast of the Central Bank, it should decrease to about 5%.

Kirill Sarkhanyants