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Bank of England set to raise rates again as inflation heads for 10%

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Reuters UK

By William Schomberg LONDON (Reuters) – The Bank of England looks set to override its worries about a sharp slowdown in the British economy and raise interest rates again on Thursday as it tries to tackle an inflation rate on course for double digits. After the U.S. Federal Reserve upped borrowing costs by the most since 1994 with a 75 basis-point rate hike on Wednesday, the big question for investors awaiting the BoE’s June policy announcement at 1100 GMT is the size of the increase. Financial markets are fully pricing in a quarter percentage-point increase in Bank Rate to 1.25%. But investor…

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