Bank of England raises UK interest rates by quarter point to 4.25%

Monetary policy committee votes to increase base rate after February’s surprise rise in inflation

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The Bank of England has raised interest rates by a quarter of a percentage point to 4.25% in response to higher than expected UK inflation.

The Bank’s monetary policy committee (MPC) voted to increase the base rate for an 11th consecutive time, judging that higher borrowing costs are still required to tackle inflation despite gathering storm clouds for the economy.