Bank of England hikes interest rates again but softens pace
Britain’s central bank has raised its key interest rate increase again but toned down the pace as inflation shows signs of easing LONDON -- Britain’s central bank on Thursday raised its key interest rate increase again but toned down the pace as inflation shows signs of easing, mirroring action by the U.S. Federal Reserve and ahead of an anticipated identical move by European policymakers. The Bank of England raised the benchmark rate by half a percentage point to 3.5%, the highest level in 14 years. It was the ninth consecutive increase since December 2021 and follows last month's outsized three-quarter point rate hike, the biggest in thirty years. This time, officials opted for less aggressive action after data this week showed inflation slipped from a 41-year high. The Bank of England becomes the latest to fall in line with the Fed, which hiked its benchmark rate by the same amount Wednesday. Switzerland’s central bank followed suit with an identical mov...