Bank of England Hikes Bank Rate to 0.5%, Governor Andrew Bailey Hints at Wage...

Bank of England Hikes Bank Rate to 0.5%, Governor Andrew Bailey Hints at Wage...

The Bank of England (BOE) raised the country’s benchmark bank rate from 0.25% to 0.5% this week in order to curb rampant inflation. “We face a trade-off between strong inflation and weakening growth,” the British central bank’s governor Andrew Bailey told the press. Furthermore, when asked by a BBC reporter if BOE members were urging British citizens not to ask for pay raises, Bailey replied: “Broadly, yes.” BOE Raises Rates for the Second Time Since the Start of the Covid-19 Pandemic, British Central Bank Governor Says ‘We Need to See....


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