Bank of England hike interest rates by 0.5%

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Unrelenting inflation pressures have prompted the fastest rise in global interest rates since the early 1990s. Emma Wall, head of investment analysis at Hargreaves Lansdown, explains what this means. In Spain, the soaring cost of energy is being blamed for an ice shortage. Jose Maria Garrigues, who works at the ice machine company Coalza, shares his experience. New research which suggests that global use of fertilizer will fall by 7% in the next 12 months. Laura Cross is the director of market intelligence at the International Fertilizer Association and gives her analysis of the current situation. (Picture: Governor of the Bank of England Andrew Bailey addresses the media on the Monetary Policy Report at the Bank of England, in London, on August 4, 2022. Credit: Getty Images).