Bank of England raises interest rates to 0.5%

The Bank of England has raised interest rates to 0.5% to tackle soaring inflation amid intense pressure on households in Britain’s cost of living crisis.

At the same time, the bank maintained the volume of asset repurchase from the market at the level of 895 billion pounds. The buybacks of public bonds is 875 billion pounds, while the buybacks of corporate bonds remained at the level of 20 billion pounds.