The UK central bank lifted interest rates another 25 basis points on Thursday and said it expected rising inflation to cool off quicker than before, despite a surprise price hike it announced on Wednesday.
Sounding more optimistic about the country’s slow pace of economic growth, the nine members of the Bank of England’s monetary policy committee voted 7 to 2 in favor of a 25 basis point hike in interest rates on 4, 25%.
This was the eleventh consecutive increase in borrowing costs, which began in December 2021, although it was the lowest since June last year.
Source: Terra
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