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Bank of England Raises Interest Rates to 2.25%


As Britain goes through a period of vast change, with a new government and new monarch, the central bank is continuing its efforts to stop high inflation becoming embedded in the economy with a steady, predictable increase in interest rates.The Bank of England raised its key rate by another half a percentage point on Thursday, to 2.25 percent, taking it to the highest level since late 2008, but disappointing some who thought it would have made a three-quarter-point move. In Britain, consumer prices rose 9.9 percent in August from a year earlier, slowing slightly from the previous month but still near the fastest pace of inflation in four decades, as energy and food prices climbed hi …

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