Bank of England confirms biggest interest rate hike since 1980s

Breaking news from The Independent

November 03, 2022 View in browser Bank of England confirms biggest interest rate hike since 1980s Thomas Kingsley The Bank of England has hiked the interest rate by the largest amount in 33 years as it tries to get a grip on soaring inflation. The Monetary Policy Committee (MPC) raised the base rate by 0.75 percentage points this afternoon to 3 per cent after warning last month that growing inflationary pressures will require a "stronger response" than previously thought. The decision has pushed the interest to its highest amount since 2008.   Read the full story OTHER STORIES YOU MIGHT LIKE > UK food inflation hits record high of 11.6% as prices of basics from tea bags to sugar soar > Rishi Sunak should expand windfall tax on 'excessive' oil profits, says Cop26 president > Follow our live blog OTHER NEWSLETTERS YOU MIGHT LIKE Health Check Every Thursday, 7am (UK time) Written by Rebecca Thomas Join now The Race Report Fortnightly, 7am (UK time) Written by Nadine White Join now If you can spare a minute we'd love your feedback on our newsletters. Join the conversation or follow us Please do not reply directly to this email You are currently registered to receive The Independent's Breaking News newsletter. Add us to your safe list of senders.   If you do not want to receive The Independent's Breaking News newsletter, please unsubscribe.   If you no longer wish to receive any newsletters or promotional emails from The Independent, you can unsubscribe here.   This e-mail was sent by Independent Digital News and Media Ltd, 14-18 Finsbury Square, London EC2A 1AH. Registered in England and Wales with company number 07320345. Read our privacy notice and cookie policy.