The Bank of England hiked its interest rates to 4 percent. The interest rate has been hiked for tenth time in a row as authorities look to combat inflation. The bank said that inflation has peaked in UK. Bank of England Hikes Key Interest Rates to 3.5%, Highest in 14 Years.

Bank of England Hikes Interest Rate:

The Bank of England raised interest rates for the 10th time in a row but dropped its pledge to keep increasing them 'forcefully' if needed and said inflation had probably peaked https://t.co/SQT0ACB1z1pic.twitter.com/JgaKBfwv3J

— Reuters (@Reuters) February 2, 2023

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