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Bank of England Lifts Rates by Quarter Point, Following Fed
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LONDON—The Bank of England raised its key interest rate by a quarter percentage point Thursday, a fresh sign that policy makers around the world are determined to press down on inflation despite strains in the banking system.
The central bank had previously indicated that it might pause a series of rate increases that dates back to December 2021, but an unexpected pickup in inflation during February helped persuade policy makers that another increase in borrowing costs was needed to cool price rises.
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