Bank of England Makes Biggest Rate Rise Since 1995 as Inflation Soars

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LONDON—The Financial institution of England raised its key rate of interest by a half share level Thursday, the most important single step in additional than a quarter-century, because the central financial institution follows the Federal Reserve in giving precedence to the battle in opposition to inflation over the risk of hurting growth.

In a press release, the financial institution raised its key fee to 1.75% from 1.25%. Which means the financial institution has increased borrowing costs at six straight meetings of its financial coverage committee, its longest such streak because the late Nineteen Nineties.

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