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Old 05-05-22, 09:10 AM   #176
Jimbuna
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The UK is affected by prices rising across the globe. So there is a limit as to how effective UK interest rate rises will be in curbing inflation.

However, other countries have been adopting a similar approach, and have also recently been raising their interest rates:

United States: raised rates to 1% - its biggest interest rate increase in more than two decades
India: raised rates to 4.4% - the first rate hike in two years
Australia: raised rates to 0.35% - the first rate rise in over a decade
Mexico: raised rates to 6.5%
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