The Financial Times leads on the Bank of England hiking interest rates to 5% in an effort to curb inflation.
In its lead, the paper says the surprise hike is part of the central bank’s effort “to put a lid on inflation”. Prime Minister Rishi Sunak is quoted by the paper saying further tax cuts would have to be put on the “backburner”.
‘They were in a rush to go. They were excited to go.’
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