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The content originally appeared on: CNN London (CNN Business)The United Kingdom's central bank has hiked interest rates for a fifth time since December in a bid to tame spiraling inflation. The Bank of England said on Thursday that it would raise the cost of borrowing by 25 basis points to 1.25% despite fears that soaring prices are already squeezing households and weighing on economic growth. 'Bank staff now expect GDP to fall by 0.3% in the second quarter as a […]
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