LONDON: Following its peer economies, the Bank of England on Thursday opted for a 0.25 percentage point increase in its rates despite lingering concerns about the health of the global financial sector.By a vote of 7-2, the bank opted to raise lending rates from 4 per cent to 4.25 per cent as it tries to reach its target inflation rate of 2 per cent in a way that helps to sustain growth and employment.On growth, the bank said it expected gross domestic product in the nation's economy to increase slightly, bucking last month's forecast for a 0.4 per cent contraction. But inflation remains stubbornly high. After falling to 10.1 per cent over the 12-month period ending in January, inflation clim
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