The Bank of England raised its key rate for a third policy meeting in a row as inflation is forecast to climb even higher after the Russia's invasion of Ukraine.
Policymakers led by Governor Andrew Bailey decided to raise the key interest rate, the bank rate, by 25 basis points to 0.75 percent.
The Monetary Policy Committee voted by a majority of 8-1 to hike the rate by 0.25 percentage points. Policymaker Jon Cunliffe preferred to maintain the rate at 0.5 percent.
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