Bank of England poised to raise borrowing costs to combat inflation

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Financial markets expect 0.5 percentage point increase as fears mount that UK is about to enter long recession

The Bank of England is poised to increase the cost of borrowing for households and businesses at its interest meeting today, as fears mount that the UK economy is about to enter a long recession.

Financial markets expect a 0.5 percentage point increase in the central bank’s base rate to 3.5% as the monetary policy committee seeks to combat inflation.

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 ALL Credit of this post going to https://www.theguardian.com

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