Economic Report: Bank of England hikes rates to 5% in 13th straight increase and says more hikes may be coming

Economic Report: Bank of England hikes rates to 5% in 13th straight increase and says more hikes may be coming

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The Bank of England made its 13th consecutive interest rate hike on Thursday, moving for a 50 basis-point rate hike that will bring its key bank rate to 5%, and said further hikes may be needed. The news gave the pound GBPUSD, a 0.3% boost to $1.2734, while the yield on the 10-year gilt…

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