British Bank raised the benchmark interest rate to 2.25%

Xinhua News Agency, London, September 22 (Reporter Yang Hairuo) Bank of England, British Bank of England, announced on the 22nd that the benchmark interest rate raised the benchmark interest rate from 1.75%to 2.25%, which was the seventh rate hike since December last year.

In the minutes of the meeting announced on the same day, the British Bank stated that the British economy is expected to decline by 0.1%in the third quarter, which will be the second quarter of the British economy to fall into recession.

The Bank of England also stated that because the government had previously introduced price restrictions such as energy price guarantee, the peak of British inflation level may be lower than the previously expected 13%.However, in view of the rise in energy prices, the British Consumer Price Index (CPI) is expected to be slightly lower than 11%in October and will remain at more than 10%in the next few months.

Kaitou macro chief British economist Paul Dels believes that because of high inflation and other factors, the Bank of England may not turn to low interest rate policies until 2024.

[Editor in charge: Liu Xiaodong]

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