Bank of England Hike Interest Rates: Bank of England has made loans costlier after the US Central Bank Federal Reserve within 24 hours. The Bank of England has decided to increase interest rates to curb inflation. Bank of England has increased the interest rates by 0.25 percent to 4.25 percent now. Bank of England says that people can get relief from inflation earlier than earlier estimates.
There has been an increase in the inflation rate in Britain for the first time in four months, after which the Bank of England has decided to increase the interest rates. The Consumer Price Index rose to 10.4 percent in February. Last month it was at 10.1 per cent. Experts had expressed the expectation that Britain’s inflation rate would be 9.9 percent in the month of February. In such a situation, this figure is much more than expected.
What will RBI do?
The world’s big central banks are increasing the interest rates in the monetary policy meeting. So now it is believed that this RBI can also change the policy rates. RBI’s monetary policy meeting is going to be held from 3 to 6 April 2023. On April 6, RBI Governor Shaktikanta Das will announce the decisions of the Monetary Policy Committee. In which it is believed that RBI can increase the repo rate.
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