United Kingdom has increased its interest rates by 0.5 percentage points, from 3% to an annual rate of 3.5%.
The key rates a tool used by Central Banks to implement monetary policy.
An increase in interest rates is used to slow down inflation and protect the currency.
This change is the first to have taken place since on November3th 2022, when the Central Bank increased interest rates by 0.75 percentage points to 3%.
Here we show you the progression of interest rates in United Kingdom. You can see interest rates in other countries in interest rates and see all the economic information about United Kingdom in United Kingdom economy.