BoE Base Rate increased to 5.25% - August 2023

The Bank of England base rate is currently at a high of 5.25%.

The base rate was increased from 5% to 5.25% on 03 August 2023.

This is the 13% consecutive rate increase by the Bank of England and is done to curb inflation which currently is just below 8% to a target of 2% which according to the Bank's projection models is likely to be around Q2 of 2025.

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