Bank of England poised to raise interest rates for 10th time in a row

Policymakers face balancing act between driving inflation down and risk of deepening economic slump

The Bank of England is poised to raise interest rates for the 10th time in succession when its policymakers meet this week in a further squeeze on the finances of mortgage holders and businesses.

Financial markets expect a 0.5 percentage point increase in the central bank's base rate to 4%, its highest level since the 2008 financial crisis. It comes after nine straight rate increases from the Bank's monetary policy committee (MPC) since December 2021.