Bank of England poised to unveil steepest interest rate rise since Black Wednesday
Written by Black Hot Fire Network on November 3, 2022
The Bank of England is poised to raise interest rates by the most since Black Wednesday on Thursday after the US Federal Reserve announced a steep increase in borrowing costs for an unprecedented fourth time.
The Fed’s decision to put up rates by 0.75 percentage points piles pressure on Andrew Bailey, the Governor of the Bank, to follow suit with a rise of the same scale in the UK.
A 0.75-point increase would take the Bank's interest rate back to levels last reached in November 2008 - and
