The Bank of England enacted its eighth consecutive interest-rate increase. PHOTO: ISABEL INFANTES/AGENCE FRANCE-PRESSE/GETTY IMAGES
Hike takes rate to highest level since November 2008
By Paul Hannon – The Wall Street Journal
The Bank of England raised its key interest rate by 0.75 percentage point on Thursday, its largest rise since 1989, as it fights a surge in inflation from rising energy prices even as the U.K. economy slides into an expected recession.