Category: inflation in the U.K.

British Pound Falls Against the Dollar for the First Time Since March 2020 Due to Economic Slowdown

June 15, 2022
Bank of EnglandBusiness & Marketseconomic policieseconomyinflationinflation in the U.K.MarketspoundSterlingUKWorld
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The British pound dropped on June 15 to its lowest level against the U.S. dollar since March 2020. The plunge reflects concern about the widening gulf between interest rate policies at the Bank of England (BOE) and the Federal Reserve. The European Central Bank also made a surprising move, with the announcement that it will…

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Bank of England Hikes Interest Rates Three Times Amid Inflation Concerns

March 17, 2022
Business & Economyeconomic policieseconomyEuropeinflationinflation in the U.K.interest ratesMarketsRussia-Ukraine WarThe Bank of EnglandUKWorld
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The Bank of England (BoE) approved a third consecutive interest rate hike March 16 amid rising concerns about inflation. It’s the first time since 1997 that the central bank has raised rates three times in a row. “The (bank’s) MPC (Monetary Policy Committee) sets monetary policy to meet the 2 percent inflation target, and in…

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Rising Inflation Could Cut Average Household Incomes by £700: Study

June 20, 2021
Bank of Englandinflation in the U.K.UKWorld
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Inflation in the UK is on course to increase above four percent in the coming months, reducing average household incomes by £700, research suggests. The Resolution Foundation said higher than expected inflation poses more of a challenge to household incomes than to the Bank of England. The think tank said UK inflation has mirrored trends…

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