![Bank of England enacts largest rate hike in 27 years](https://image.chitra.live/api/v1/wps/15b2af6/f3bef4d5-8e7f-414f-946e-a15a7ef99c74/2/iStock-1162414925-roi-1-679x419.jpg)
The Bank of England (BoE) has raised interest rates by 0.5 percentage points today (4 August), representing the largest hike since 1995.
The bank's monetary policy committee voted 8-1 to raise rates to 1.75% and has forecast a recession in the UK by the end of this year as gross domestic product (GDP) growth continues to slow. Th...
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