Surprising no economists on this occasion, the B of E has raised rates a further 0.25% to 0.75%, with a vote of the Monetary Policy Committee (MPC) coming in at 8-1 for the increase. Small steps to try and reduce runaway inflation, so interest rates are only going one way for some time and fairly regularly. Energy prices were already at high levels before Putin's barbaric decision to invade Ukraine and both countries were major wheat suppliers no longer available, so food prices will be going through the roof. Consumer energy bills are about to double and inflation currently standing at 5.5%, could threaten the record high of 8.5% back in 1991, later this year.