Bank of England hikes interest rates for 11th time running after leap in inflation

The Bank of England increased interest rates for the 11th time in a row after an unexpected resurgence in UK inflation.The Bank's Monetary Policy Committee (MPC) decided to increase interest rates to 4.25% from 4%, just a day after the US Federal Reserve raised its key overnight interest rate by a quarter of a percentage point.

Read at www.independent.co.uk