The Bank of England raises interest rates to 4.5%, the highest level since 2008

ECONOMY

The Bank of England raised interest rates on Thursday from 4.25% to 4.5%, the highest level since 2008, in order to control year-on-year inflation in the United Kingdom, which last March stood at 10 ,1%.

The English issuing bank made the decision at the end of a meeting of its monetary policy committee, which aims to control inflation to place it at 2%.

At its February meeting, the Bank of England had anticipated that inflation will drop considerably at the end of this year, after months of increases due to the increase in energy prices worldwide due to the war in Ukraine.

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