The Bank of England (BoE) has raised its bank rate by 0.25 percentage points to 4.5%, in a move to mitigate persistent inflationary pressures, according to the Monetary Policy Committee's (MPC) report published on May 10, 2023.

Sarah Breeden, executive director for financial stability, strategy and risk with the Bank of England, says that because the financial system and the "real economy" are closely connected, it is important to monitor corporate debt, given its impact on the economy.