India, Nov. 5 -- It seems like the British economy has landed in troubling waters. Bank of England, the country's central bank has hiked interest by a notable 4% and warned of more hikes, if inflation driven by the Iran war persists. It comes as Britain faces issues like inflation and a high cost of living. The hike will most likely lead to higher borrowing costs.

Bank of England Raises Interest Rates to 4% for First Time in Three Years

For the first time in over three years, the Bank of England (BoE) increased its benchmark interest rate from 3.75% to 4%. The announcement was made on November 5, 2026, at a time when the UK economy is under fresh inflationary pressure, primarily due to rising energy prices associated with the ongoing Mi...