Bank of England raises rates for first time since 2023, warns another move likely - Devdiscourse

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The Bank of England raised interest rates for the first time ​in over three years on Thursday and warned that at least one more increase was likely if ‌the US-Iran ​conflict continues, as it started on a path that its main peers have already embarked on. British inflation is likely to reach around 5% in the middle of next year, the BoE said, more than double the central bank's target and a blow to Prime Minister Andy Burnham, who has sought to ease cost of living pressures.