<span style="color: #222222;">Bank of England raised its key interest rate to 3.5 percent from 3 percent today. It is ninth rate rise in a row as the Bank tries to speed inflation's return to target after price growth hit a 41-year high in October. <br />''<br />''The Bank of England's Monetary Policy Committee voted 6-3 in favour of the move. <br />''<br />''It said, further increases in Bank Rate may be required to tackle what it fears may be persistent domestic inflation pressures from prices and wages.<br />''<br />''The move follows the U.S. Federal Reserve's decision on Wednesday to raise its main rate by half a point, as Western central banks grapple with post-COVID labour shortages.</span><br />