The Bank of England on Thursday matched the U.S. Federal Reserve by hiking interest rates by a quarter point. The 7-2 decision, the eleventh consecutive increase, brings the U.K. base rate to 4.25%, and comes after data showed inflation surprisingly accelerated in February to a year-over-year rate of 10.4%. “If there were to be evidence of more persistent pressures, then further tightening in monetary policy would be required,” the central bank said.
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