The Bank of England raised the discount rate immediately by 0.5% to 1.75%.

[Mount Athos]

This is the biggest increase in 27 years.

[Robert DeLong]

Bank Rate Increased TO .075% - March 2022

I have no clue where you are getting your information from, because you provided no link. A search for the heading produced no results either, except the one I provided above, and one from Feb. 2022 that talked about the rate being raised to .050%.

[Ultra Sonic 007]

Please include at least one source next time.

https://www.moneysavingexpert.com/news/2022/08/base-rate-bank-of-england-mortgages-savings/

[Ultra Sonic 007]

The news is all over the place now: https://www.google.com/search?q=bank+of+england+1.75%25&client=ms-android-tmus-us-revc&source=android-browser&prmd=snmiv&source=lnms&tbm=nws&sa=X&ved=2ahUKEwir8KehoK35AhX3FzQIHckpBw0Q_AUoAnoECAIQAg&biw=360&bih=605&dpr=2

[Robert DeLong]

He could have provided a link with his post, unless he is so closely connected, that he knew it before it was reported on.

However, it had been raised to .075 back in March, so it did contain that error nonetheless.

[Rockingham]

The problem for Engand is not just inflation, but also the declining value of the pound versus the dollar.

[Boogieman]

Good, finally at least one central bank is showing a wee bit of sanity after a decade and a half of utter lunacy.

[libertylover]

The problem for Engand is not just inflation, but also the declining value of the pound versus the dollar.

According to the app on my phone, the current rate is $1.21 for one pound.

I really don't know if that's too low or not. But I do know that when I was stationed in England in the 1970s for three years the rate was about $2.65 per pound and that was way, way, way too high. Probably about $1.80-2.00 would've been a fair rate.

[Rockingham]

Interest rates have a major influence on currency values. Other things being equal, money flows toward where it can get the highest rate of return, and money flowing toward a currency bolsters its value.

In recent years, a measure known as purchasing power parity (PPP) has been developed that assesses currency values through a "basket of goods" approach that compares the cost of living between countries. Intuitively, that is also how consumers compare currency values, while financial analysts look at economic data like interest rates.

[sinsofsolarempirefan]

The pound-dollar has oscillated more or less around that rate for a few years now.