Bank of England Raises Interest Rates to Highest Level Since 2008

Andrew Bailey, Governor of the Bank of England, during the Bank of England Monetary Policy Report Press Conference, at the Bank of England, London, one May 11, 2023. Henry Nicholls/PA Media

The Bank of England (BoE) has raised interest rates from 4.25 percent to 4.5 percent marking their highest level in almost 15 years.

It’s the bank’s 12th consecutive rate hike and a peak since October 2008.