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11 In A Row: Bank Of England Hikes Again
A day on from the release of data showing food inflation in the UK exceeded 18% in February, the Bank of England delivered an 11th consecutive rate hike.
At the bank's February gathering, the MPC tipped a potential pause in the statement. Alas, it wasn't to be.
The vote was 7-2. Obviously, the two dissents (Dhingra and Tenreyro) favored a hold.
The bank mentioned a "material" decline in wholesale natural gas prices and oil, but in explaining the rate hike, the MPC said the growth outlook ha
