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BOE Says ‘More Persistent’ Inflation Prompted Surprise Rate Rise

  • U.K. decision follows hawkish Fed move signaling tightening
  • Most economists anticipated no change from BOE on Thursday
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Bank of England Raises Benchmark Interest Rate to 0.25%
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Bank of England Governor Andrew Bailey said an outlook for “more persistent” inflation was behind a surprise decision to raise interest rates for the first time in three years.