Sky News
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In full: Bank of England holds news conference as interest rate raised to 1%
Posted
May 5, 2022
Views
15,675
Likes
99
Comments
33
Engagement
0.84%
May 5, 2022
15,675
99
33
0.84%
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18:55Now PlayingThe Bank of England has raised the base rate of interest to 1% - the fourth consecutive increase as it continues to move against surging inflation - despite issuing a warning about recession ahead.
The Bank forecast that the UK economy will shrink later this year in the face of double-digit inflation and an unprecedented squeeze on household incomes.
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