from 4.5 per cent to 5 per cent after disappointing inflation figures showed price rises have not eased.unchanged in May at a rate of 8.7 per cent, according to the Office for National Statistics.
Economists had agreed that the Bank’s Monetary Policy Committee was likely to raise interest rates by 0.25 per cent increase, but there was a 40 per cent chance of the 0.5 per cent hike that was ultimately decided upon.
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