BoE leaves door open to further rate rises amid fears of entrenched inflation

The Bank of England's decision to raise interest rates for the first time in three years signals a significant shift in its approach to tackling inflation, which has raised concerns about its persistence. The accompanying hawkish stance suggests the BoE is prepared to take further action if needed to control inflationary pressures. This move is crucial as it impacts economic growth, consumer spending, and overall financial stability, signaling the BoE's intent to act decisively against long-standing inflation challenges. For more details, check out the full article on Financial Times.