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Economy

BoE raises interest rate to 15-year high

The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.5%

The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May.

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