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UK central bank may hike rates after big jump in food prices

From apnews.com

Something unexpected may force the Bank of England to approve an 11th consecutive interest rate increase Thursday: a shortage of fresh vegetables. The scramble for peppers, cucumbers and spinach last month helped push inflation to 10.4% in February, surprising analysts who expected prices to drop into single digits for the first time in seven months. Before the numbers were released Wednesday, many economists suggested the Bank of England would keep rates on hold. That’s because of concern about turmoil in the global financial system following the collapse of two U.S. banks and the ensuing troubles at Switzerland’s ... (full story)

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  • Category: Fundamental Analysis