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UK interest rates might follow
The Bank of England often watches what the US Federal Reserve does. If the US raises rates to fight inflation, the Bank of England might feel pressure to do the same to keep the pound stable and control inflation here. This could mean higher borrowing costs for everyone in the UK.
Stories that explain this
US central bank expected to raise interest rates by a quarter on WednesdayRelated explainers
Global economy feels the pinch Your loan payments go up Stronger dollar, weaker pound Why things cost more Interest rates might rise How global interest rates connect Impact of interest rates Inflation and interest ratesThe full catalogue
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