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

What happened: The Bank of England raised interest rates for the first time in three years and signaled it may raise them further, citing fears of entrenched inflation. Why it matters: The accompanying hawkish message marks a sharp change in tone for the institution, keeping the door open to further rate rises.

The Bank of England raised interest rates for the first time in three years and signaled it may raise them further, citing fears of entrenched inflation.

The accompanying hawkish message marks a sharp change in tone for the institution, keeping the door open to further rate rises.