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BANK OF ENGLAND

BoE Unveils Fifth Rate Hike In Row As Inflation Soars

The Bank of England raised its main interest rate to its highest level since 2009
The pound slumped one percent against the dollar following the announcement, one day after the Federal Reserve hiked US interest rates far more aggressively to fight runaway consumer prices in the world's biggest economy.
People walk through the financial district of Canary Wharf

UK Slowdown Fears Mount As GDP Unexpectedly Shrinks In April

Britain's economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation.
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