Bank of England poised to slow pace of interest rate hikes

LONDON (AP) — Britain’s central bank is expected to deliver its ninth straight interest rate hike. But it will likely be smaller than last month’s outsized increase as inflation shows signs of easing. Most economists expect the Bank of England to raise its key interest rate by half a percentage point Thursday, taking it to 3.5%. That would put it in line with the U.S. Federal Reserve, which hiked its benchmark rate by the same amount Wednesday. Switzerland’s central bank followed suit a day later, and the European Central Bank also is expected to approve a similar increase Thursday.