The Bank of England raised its benchmark interest rate by a quarter point on Thursday, after a half percentage point hike last time, citing persistence of high inflation. In a three-way split, the nine-member Monetary Policy Committee decided to lift the bank rate to 5.25 percent, the highest since early 2008. This was the fourteenth consecutive rate hike. Six members including Governor Andrew Bai...
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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.