BoE hikes rate half-point
June 23, 2023 00:00:00
LONDON, June 22 (AFP): The Bank of England (BoE) Thursday lifted its key interest rate by a half-point to five per cent to tackle stubbornly high UK inflation despite such a move worsening a cost-of-living crisis.
The higher-than-expected hike to a 15-year high was the 13th increase in a row.
"There had been significant upside news in recent data that indicated more persistence in the inflation process," the Bank of England (BoE) said minutes from the regular policy meeting.
