UK midcaps at over 2-month lows after BoE hikes interest rates

Published by
Reuters UK

By Bansari Mayur Kamdar (Reuters) -UK shares fell on Thursday, with the midcap index touching the lowest in over two months on recession fears after the Bank of England joined several global central banks in hiking interest rates to tame inflation. The blue-chip FTSE 100 index closed down 1.1% at a three-week low, while FTSE 250 index, more exposed to the domestic economy, fell 2.1% to its lowest since July 5. The Bank of England raised its key interest rate to 2.25% from 1.75% and said it would continue to “respond forcefully” to inflation as needed even though the economy risks being in a sh…

Read More