The Bank of England hiked its key rate for the eleventh consecutive session on Thursday as an unexpected rise in inflation outweighed concerns about the recent banking sector turbulence.
The nine-member Monetary Policy Committee decided to lift the bank rate by 25 basis points to 4.25 percent. This was the highest rate since 2008.
Seven members of the panel voted for a quarter point hike, while Swati Dhingra and Silvana Tenreyro again sought to maintain the status quo.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.