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Bank Of England Hikes Interest Rates By 2.25%

Britain's central bank has raised its key interest rate by half a percentage point

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The Bank of England on Thursday raised its main interest rate to 2.25 per cent. However, it has avoided more aggressive measures taken by the US Federal Reserve and other central banks to control inflation.

Britain's central bank has raised its key interest rate by half a percentage point. The bank had increased these by half a per cent last month as well, which was the biggest increase in the last 27 years.

Due to the death of Queen Elizabeth II, the Bank of England has delayed the decision to increase the interest rate by a week. The central bank has continued to hike interest rates to control rising food and energy prices.

Earlier, the US Federal Reserve had increased rates for the third time in a row by 0.75 per cent. 

The domestic stock markets fell for the second consecutive day on Thursday and the Sensex closed with a fall of more than 300 points. Today's fall in the stock market has been registered after a sharp increase in interest rates by the US Federal Reserve and weak signals from markets around the world.


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