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The Bank of England has raised interest rates by 25 basis points to 4%, marking its first rate hike in over three years.
The Bank of England announced a 25-basis-point interest rate hike to 4%, marking its first rate increase in over three years. This widely anticipated move represents the central bank's first rate rise since August 2023, making it the final major central bank to initiate a tightening cycle since the US and Israel launched a war against Iran eight months ago.
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