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BOE Set to Lift Key Rate to Pre-Pandemic Level: Decision Guide
The Bank of England, the first among major central banks to tighten monetary policy after the pandemic, looks all but certain to reach another milestone on Thursday by taking interest rates back to their pre-Covid level. Policy makers led by Governor Andrew Bailey are expected to increase their benchmark a quarter point to 0.75%, responding to a worsening inflation outlook that may force the bank to upgrade its forecast for price gains to peak at 7.25% this year. The war in Ukraine provided another upward jolt to energy prices, which already were fanning a broader increase in prices across the economy. Some ... (full story)