2 Feb 2023

Bank of England raises UK interest rates to 4% – 14 year high

The Bank of England may have sounded a little less gloomy about the economy today – predicting that the recession will end sooner than it previously thought and that the rate of inflation will fall rapidly later this year.

But, it still put its base interest rate up again – this time to 4 per cent – and warned that economic risks remain.