BBCNEWS World Business Report July 7, 2024
lets now get down to business. the biggest interest rate rise since 1989. that's what we are awaiting from the bank of england in just a few hours�* time as it battles to control soaring prices. the bank is widely expected to raise its benchmark rate — from 2.25% to 3% — pushing up the cost of mortgages, credit cards and loans. it comes as america's central bank — the us federal reserve — raised its main rate by three quarters of a percentage point — and warned borrowing costs will have to go higher than many are expecting. michelle fleury has this from new york. this is ...