Bank of England expected to raise interest rates again

LONDON (AP) — The Bank of England is expected to raise its key interest rate to the highest level in 13 years. It comes as policymakers around the world combat inflation fueled by high energy prices, Russia’s war in Ukraine and lingering concerns about COVID-19. Economists forecast that the central bank’s Monetary Policy Committee will raise interest rates for a fourth consecutive meeting Thursday. That would mean lifting the rate the Bank of England pays other banks by a quarter-percentage point, to 0.75%. The decision comes a day after the U.S. Federal Reserve approved the biggest rate increase in more than two decades.