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Bank of England Raises Rates Amid Inflation Concerns
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Bank of England raises interest rates by 25 basis points, marking 14 consecutive hikes to combat inflation, with a projected fall to 4.9% by the end of the year. Prime Minister Rishi Sunak and Finance Minister Jeremy Hunt welcome the news, anticipating a recession-free economy with inflation below 3% in a year.
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How might the Bank of England's rate hike impact borrowing costs and investment decisions?
In what ways could the rate hike affect consumer spending and economic growth in the UK?
What measures could the UK government take to address concerns about overtightening and inflation?
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