The Bank of England raised its key interest rate for the fifth straight session on Thursday, as inflationary pressures intensified amid the labor market tightness. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to raise the bank rate by 25 basis points to 1.25 percent, the highest rate since early 2009. The bank has raised the rate by a total 1.15 percentage points since December. Powered by Commodity Insights
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