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Bank of England Raises Interest Rate for the First Time Since 2007
November 06, 2017
Bank of India has raised the lending rate twofold to 0.5% from the current 0.25%, which is a major blow to millions of families that will have to pay higher bills for mortgages and other loans.
The move comes in after the key Monetary Policy Committee (MPC) voted 7 to 2 for an increase. However, understanding how Britain’s Brexit-hit economy is standing on thin ice, the central bank said that there won’t be any imminent hikes.
