Bank of England Raises Rates Again But End of Tightening Cycle Still Uncertain

The Bank of England raised rates for the 14th consecutive time but signaled rates would need to remain high amid conflicting inflation data.
While UK inflation has started to decline from last year's peaks, it remains well above the central bank's 2% target.
Policymakers are trying to balance controlling inflation and avoiding an economic downturn as forecasts point to weak growth.
The Bank of England's rate hikes lagged other major central banks, contributing to higher inflation, and it may need to keep rates elevated longer.
Central banks globally are nearing the end of tightening cycles, but the Bank of England says it's too soon to declare victory over inflation.