The Bank of England raises key interest rates more than expected

The Bank of England is the central bank of the United Kingdom (UK) and was founded in 1694. Today, the British central bankers raised the prime rate from 4.5% to 5.0%. An increase to 4.75% had been expected. The decisive factor was the higher than expected inflation and core inflation for May, which was reported this week on Wednesday. In contrast to Germany and the USA, core inflation in the UK is currently rising again. Core inflation describes the growth in consumer prices excluding food and energy.