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The Bank of England made its bet // The British regulator supported the trend towards tightening monetary policy

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The Bank of England on Thursday, following the US Federal Reserve System and the European Central Bank, decisively raised the interest rate – by 50 basis points at once, to 1.75% per annum. This was the most significant increase in the indicator over the past 27 years. In this way, the regulator is trying to curb inflation, which, according to the new forecast, will accelerate to 13.1% in the fourth quarter. The rate has been raised amid the approaching recession of the British economy – the Bank of England expects that it will begin to shrink in the last quarter of this year and that the recession will last all of 2023. .

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