Interest rate
August 3, 2022
The forecast interest rate hike by the Bank of England to be announced on Thursday is harmful to the economy and is, in effect, a misery rate rise.
The latest decision comes amid skyrocketing prices and indications the UK may face a recession this year.
As the Bank of England took a passive stance for much too long in 2021 as the country was emerging from Covid lockdowns and prices were starting to soar, they now feel the need for an aggressive move on rate hikes.
Yet I
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