KME Chartered Accountants

November 03,2022

  • UK central bank is trying to rein in double-digit inflation
  • Economists divided about how officials will change forecasts

The Bank of England on Thursday is expected to deliver its biggest interest-rate increase in 33 years, stepping up an effort to rein in double-digit inflation.

The UK central bank announces its decision at 12:00 p.m. London time, with Governor Andrew Bailey leading a press conference a half hour later. Officials will publish their outlook for the economy and inflation, likely confirming a long recession is now under way.

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