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Bank Of England Lifts Uk Rates To 3%

Bank of England lifts UK rates to 3%

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:  

"Quelling rampant inflation and kickstarting a slowing economy left the Bank facing a difficult balancing act, with today’s interest rate hike to 3% hardly surprising in this context. 

“Fiscal and monetary policy remains murky as we move towards year close, and this environment poses significant challenges for investors and financial advisers in the public markets. Turning to private markets and venture capital as an alternative investment can offer steady long-term growth opportunities, with unparalleled tax reliefs available via the Enterprise Investment Scheme.” 

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