Bank of England votes 6-3 to lift rates by a quarter point to 13-year high

By a 6-3 to vote, the Bank of England on Thursday voted to lift interest rates by a quarter point, to 1.25%, the highest level in 13 years. The three in the minority voted for a half-point increase. CPI inflation is expected to be over 9% during the next few months and to rise to slightly above 11% in October, the Bank of England said. The pound was slightly weaker at $1.2167 on the day, while the yield on the 2-year U.K. gilt edged up 4 basis points to 2.01%.

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