BoE raises interest rates for 11th straight time to 4.25%
The Bank of England (BoE) raised interest rates by 25 basis points to 4.25% on Thursday. This was its 11th consecutive increase in borrowing costs which began in December 2021. "The MPC will continue to monitor closely indications of persistent inflationary pressures, including the tightness of labour market conditions and the behaviour of wage growth and services inflation," BoE said.