The Bank of England is expected to raise interest rates by 0.25% to 4.5% as it tackles inflation in the country. It is the bank’s 12th rate increase since late 2021 and the highest level since late 2008. This action was taken to keep a lid on the rising prices stoked by bottlenecks and Russia’s invasion of Ukraine, leading to energy prices soaring. The move is expected to be the last, according to economic analysts, with interest rates expected to fall back toward a target of 2%. A focus on the Bank’s quarterly economic projections will provide insight into the U.K.’s stagnant economy.
ICICI Lombard Q3 Results: PAT jumps 68% YoY to Rs 724 crore, total income grows 17%
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January 17, 2025