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BoE raises interest rate by half-point, biggest hike since 1995

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Governor Andrew Bailey announces that the Bank of England will raise interest rates by 0.5% to 1.75%, a hike unprecedented since the Bank gained independence in the 1990s, in a bid to tackle surging price rises. British inflation jumped to a four-decade high of 9.4 percent in June, worsening a cost-of-living crisis as workers' wages fail to keep pace. SOUNDBITE

Added on the 04/08/2022 13:54:01 - Copyright : AFPTV - First images

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