The Bank of England is expected to hike interest rates for the 12th consecutive meeting on Thursday as inflation continues to run hot, but the summit may be drawing near. The U.K. economy has held up better than expected so far this year, though GDP flatlined in February as widespread strikes and the cost-of-living squeeze hampered activity, while the labor market continues to look resilient. Annual headline inflation remained stubbornly above 10% in March, driven by persistently high food and energy bills, while core inflation also remained unchanged, highlighting the risk of entrenchment. The Bank expects it to ... (full story)