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BOE Raises Rates by Most Since 1995, Warns of Long Recession

  • All policy makers except for Tenreyro backed half-point move
  • Pound falls, yield curve briefly inverts on growth fears
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Nomura's Rochester Sees BOE Shift to Rate Cuts in May
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The Bank of England unleashed its biggest interest-rate hike in 27 years as it warned the UK is heading for more than a year of recession under the weight of soaring inflation. The pound fell.