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BUSINESS CLOSE: Bank of England hikes interest rates to 1%

BUSINESS CLOSE: BoE hikes rates of interest to 1%; pound falls under $1.24; Nasdaq slumps 5% in US sell-off; Shell posts file income

  • Bank of England hiked base charge by 0.25 proportion factors, to 1%
  • Three of the nine-strong MPC committee voted for a bigger 0.5 proportion hike 
  • Bank stated inflation will hit 10% this yr because of power value rises 
  • US sell-off sees Nasdaq hunch 5%, S&P 500 lose 4% and Dow Jones drop  3%
  • Shell posts bumper file income as oil and fuel costs surge  

The FTSE 100 index closed up 0.13 per cent or 9.82 factors to 7,503.27 this afternoon, because the Bank of England upped UK rates of interest. 

Among the many firms reporting at the moment are Shell, which has raked in bumper income, Subsequent, BAE Programs, Trainline, Virgin Cash UK and Barrett Developments. Learn the Thursday 5 Could Enterprise Reside weblog under.

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