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BOE raises rates by a half-point as push begins for bigger moves

The Straits Times LogoThe Straits Times1w ago

BOE raises rates by a half-point as push begins for bigger moves - The Straits Times

Quick Summary:

September 22, 2022 9:26 PM - BRITAIN - The Bank of England (BOE) delivered a second consecutive half-point interest-rate hike in its battle to bring down inflation, as three officials pushed for the institution to join its global peers in moving at an even quicker pace.

The BOE's task of calibrating policy has been made harder by huge fiscal expansion announced by new Prime Minister Truss.

Officials also projected a technical recession in the second and third quarters of 2022, as the economy takes a hit from the extra bank holiday for the funeral of Queen Elizabeth II.


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Article Details

Category: Economy

Topics: Committee Cent Inflation Recession Points Officials Months Energy Government Policy Move

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-22, 21:26:44

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Reading Time: 4 minutes read

Article Length: 689 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 471140

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About The Straits Times

The Straits Times Logo

Main Topics: Economy

Official Website: straitstimes.com

Update Frequency: 15 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 44m ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #25

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