The Bank of England has implemented the largest interest rate hike since 1995

On the 4th local time, in order to suppress inflation, the Central Bank of the UK announced that 50 basis points raised interest rates, raising the benchmark interest rate from 1.25%to 1.75%. This is the largest interest rate hike since 1995. Six hikes.

The Bank of England also warns that the British economy will begin to fall into recession in the fourth quarter of this year.

This is Britain's largest interest rate hike since 1995, and the highest interest rate since December 2008. Previous data showed that the inflation rate in the UK reached 9.4%in June, a new high in 40 years.

The Bank of England expects the British economy in the fourth quarter to decline

The Bank of England warned that the British economy would begin to fall into recession in the fourth quarter of this year and will last until the end of 2023. This will be the longest decline in the financial crisis in 2008.

In addition, the forecast of the British Bank of England shows that the energy costs of British households will rise sharply in October, promoting the inflation rate to 13.3%in the fourth quarter of this year, and remained above 10%before the middle of next year.

British President Andrew Bailey: The current increase in energy prices has intensified (British residents) 's real income decline, and therefore has further seen the economic prospects of Britain and even Europe. And related forecasts show that the British economy will fall into a decline later this year.

(Source: CCTV News Client)

【Edit: Shang Pei】

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