Bank of England Enacts First Back-to-Back Rate Rises Since 2004 – The Wall Street Journal

LONDON—The Bank of England raised its key interest rate for a second consecutive meeting, moving further ahead of other major central banks as they grapple with soaring inflation.

The rate-setting Monetary Policy Committee agreed to lift the BOE’s policy rate to 0.5% from 0.25%, saying they expect annual inflation to accelerate above 7% within months due to low unemployment, rising wages and surging energy prices.

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