Bank of England Raises Rates for Fifth Time to Tame Inflation

LONDON—The Bank of England on Thursday raised its key rate of interest by 1 / 4 proportion level for the fifth consecutive time, however mentioned bigger strikes could be wanted to tame inflation.

The financial institution’s latitude to increase charges is proscribed by mounting impediments to progress. These embody hovering power prices attributable to the Ukraine battle and a possible trade dispute with the European Union after the U.Ok. authorities introduced laws that may enable it to tear up elements of its Brexit settlement with the bloc.