The Bank of England is set to hike its key rate by a quarter-point at its monetary policy meeting, on Thursday, after the US Federal Reserve raised its benchmark rate by a half percentage point.
As UK inflation soars, the monetary policy committee is widely expected to lift the interest rate to 1.00 percent from the current 0.75 percent. The announcement is due at 7.00 AM ET.
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by Renju Jaya
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