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