Amid an uncertain macroeconomic environment, the Bank of England has raised interest rates by 0.25 percentage points to 4.25 percent.

This 11^th consecutive rise was “hardly surprising”.

Daniele Antonucci, the chief economist and macro strategist at Quintet Private Bank, noted that “inflationary pressures remain strong, and probably stronger than expected, as shown by yesterday’s upside surprise to March inflation.”

Inflation rose from 10.1 percent to 10.4 percent...