Following the meeting in March 2023, the Bank of England raised the base rate from 4.25% to 4% and is ready to raise it further in the event of increasing inflationary pressure. The agency RIA Novosti writes about it, citing a press release from the country’s financial regulator.
The rate is now 4.5%, the highest level since October 2008. In February, the regulator increased the rate by 0.5 points in December, by the same amount, and by 0.75 points in November.
“The UK banking system maintains a stable position, including on the issue of liquidity,” is traced from the material.
According to the Bank of England Financial Policy Committee (FPC), the UK banking system maintains solid capital and strong liquidity positions and is well positioned to continue supporting the economy in a wide range of economic scenarios, including during a period of higher rates. ” , — quoting the agency’s message.
On March 17, the Central Bank of the Russian Federation left the key rate unchanged at 7.5% per annum for the fourth time in a row.