The Bank of England has increased interest rates

London: The Bank of England has increased the interest rate by another 0.25%. The Bank of England has increased the interest rate for the 12th consecutive time. With this increase, the interest rate in the United Kingdom has reached 4.5%.
According to the British central bank, there is no risk of recession, but the inflation rate has not decreased due to the increase in food prices.
If the inflationary pressure persists, there is a possibility of further tightening the monetary policy. However, the February and March measures will be maintained for now.
Inflation in the UK was 10.1% in April.
In addition to London, the interest rate is being continuously increased by the United States and the European Union to prevent inflation.