Bank of England hikes base rate to 4.5%

The Bank of England has hiked rates again as it continues its battle with inflation.

BoE at night
(Image credit: © Getty Images)

The Bank of England (BoE) raised its base rate by 0.25% to 4.5% - its 12th consecutive hike as it continues to grapple with stubborn inflation.

The Monetary Policy Committee was widely expected to hike the base rate following April’s inflation figures. The Consumer Price Index (CPI) rose by an annual 10.1% in March due to a 19.1% jump in the price of food and non-alcoholic beverages.

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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.