The Bank of England lifted its benchmark interest rate for the twelfth straight session and signaled more tightening to address the persistent strength in domestic price pressures amid an improvement in the economic growth outlook.
The nine-member Monetary Policy Committee, led by Governor Andrew Bailey, decided to lift the bank rate by 25 basis points to 4.50 percent, the highest since 2008.
Seven members of the central bank panel voted for a quarter point hike, while Swati Dhingra and Silvana Tenreyro again sought to maintain the status quo.
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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.