The Bank of England is widely expected to raise its interest rates for a fifth policy session in a row on Thursday amid soaring inflation that is fueling further rise in cost of living and severely hurting consumer confidence.
The Monetary Policy Committee, led by Governor Andrew Bailey, is widely expected to hike the bank rate by 25 basis points to 1.25 percent, the highest level since 2009. The bank has raised the rate by a total 90 basis points since December 2021.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.