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Source:
The Guardian
Source: The Guardian
3 HrsThe Guardian
Source: The Guardian
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The Bank of England raised its base interest rate from 3.75% to 4% on 5 November, its first increase in more than three years, with eight of nine Monetary Policy Committee members supporting the move. The Bank expects UK inflation to reach 4.9% by mid-2027, citing energy costs driven by the Iran war, and Governor Andrew Bailey said another increase remains possible if inflation risks persist.
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