BUSINESS LIVE: Bank of England raises rates 0.5%

BUSINESS LIVE: Bank of England raises base rate by 0.5% to 2.25% as UK interest rates fall further behind the US

The Bank of England has revealed the next step in the monetary fight against inflation, with a 0.5 percentage point rise in Bank Rate to 2.25 per cent. The Federal Reserve last night lifted US rates by 0.75 percentage points again. 

The FTSE 100 is down 0.3 per cent in midday trading. Among UK companies with reports and updates are JD Sports, Playtech, PZ Cussons, Halma, CVS Group and Begbies Traynor Group. Read the Thursday 22 September Business Live blog below.

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