An hourglass and businessman holds his hands in the lock. Job interview concept. Business planning. Management and distribution of time. Making a business deal. Debt restructuring.

MARKETWATCH reports:

The Bank of England on Thursday announced its second consecutive interest-rate increase, the first time it’s done back-to-back hikes since 2004.

By a 5-to-4 vote, the Bank of England voted to take rates up by a quarter point to 0.5%. Inflation reached 5.4% in December, and prices are set to rise further. The U.K. regulator Ofgem separately announced a 54% jump in the energy price cap, a move that is effective in April.

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