Bank of England lifts UK rates to 3%

4th November 2022

The Bank of England has announced that the Monetary Policy Comittee (MPC) has agreed to increase UK base rates from 2.25% to 3% as the fight against inflation continues. Following a similar 0.75% hike from the Federal Reserve System, as well as from the European Central Bank (ECB) recently with fears of inflation becoming entrenched dominating. 

Andrew Aldridge, Partner & Chief Marketing Officer at Deepbridge Capital, commented: