The Bank of England will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50%, despite the economy falling into recession, as it battles inflation running at more than five times its target, a Reuters poll found. As in much of the world, inflation in Britain has been rampant, elevated by surging energy costs following Russia’s invasion of Ukraine that has also further disrupted supply chains still healing from the coronavirus pandemic. Prices rose 11.1% in October from a year earlier, the steepest increase in 41 years. That has added to consumers’ woes as they are also facing a record ... (full story)