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London Evening Standard - 2021-11-25

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PRESSURE RAMPS UP ON BANK TO RAISE RATES

Puzzles & Games

Simon English

PRESSURE on the Bank of England to raise interest rates intensified today after other central banks jumped. South Korea’s central bank put rates up by a quarter of a percentage point to 1%. Yesterday New Zealand put rates up for a second month running to 0.75% as inflation concerns grew. Many in the City think the UK has been slow to act, with rates still at record lows of 0.1%. The Bank is now expected to be the first of the major central banks — the others being the ECB and the US Federal Reserve — to put borrowing costs higher. It is expected to do so in next month’s Monetary Policy Committee.

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