The Bank of England is set to hike its key rate by a quarter-point at its monetary policy meeting, on Thursday, after the US Federal Reserve raised its benchmark rate by a half percentage point. As UK inflation soars, the monetary policy committee is widely expected to lift the interest rate to 1.00 percent from the current 0.75 percent. The announcement is due at 7.00 AM ET. The BoE will also pub...
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.