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Bank of England no longer forecasts recession as it makes 12th consecutive rate increase

Last Updated: May 11, 2023 at 9:36 a.m. ET First Published: May 11, 2023 at 7:01 a.m. ET The Bank of England building as seen Thursday in the City of London. daniel leal/Agence France-Presse/Getty Images The Bank of England on Thursday lifted interest rates for the 12th consecutive meeting, taking rates up by a quarter

bank-of-england-no-longer-forecasts-recession-as-it-makes-12th-consecutive-rate-increase

The Bank of England building as seen Thursday in the City of London.

daniel leal/Agence France-Presse/Getty Images

The Bank of England on Thursday lifted interest rates for the 12th consecutive meeting, taking rates up by a quarter point to 4.5%.

The 7-to-2 vote was expected.

One key change in the statement was its new view that the U.K. will avoid recession, as the central bank expects 0.2% quarterly growth in both the first and second quarters, against…

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