top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


17 Mar 2022

Bank of England to Hike Interest Rates again amid Rising Inflation

The Index Today

The Bank of England (BoE) is likely to institute another interest rate hike again as inflation soars to higher levels, thereby posing a considerable threat to Britain’s economy, reported Reuters.

In a poll conducted by Reuters, 44 out of 49 economists believe that the BoE will increase borrowing rates by 0.75% while the others expect it to hold on to its current 0.5% interest rate hike level. The British central bank in February projected an April inflation rate of 7.25% which is four times that of the bank’s 2% target. However, the prediction has since been altered after Russia invaded Ukraine last month.

This comes after the U.S. Federal Reserve adopted its most aggressive stance in decades by raising interest rates by a quarter-point on Wednesday while hinting at six additional rate hikes that will come into effect this year.

According to ING’s Chris Turner and James Smith, the Ukraine-Russia crisis will cause inflation to persist in the United Kingdom. They added that “this means the BoE will double-down on its tightening plans."

Clay pottery with table linens
bottom of page