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Bank of England rate hike says ‘too soon to declare victory’

Andrew Bailey, Governor of the Bank of England speaks during the Bank of England Monetary Policy Report press conference at the Bank of England in London, Thursday Feb. 2, 2023. (Yui Mok/Pool via AP)

Andrew Bailey, Governor of the Bank of England speaks during the Bank of England Monetary Policy Report press conference at the Bank of England in London, Thursday Feb. 2, 2023. (Yui Mok/Pool via AP)

The Union Jack flag waves on top of the Bank of England in London, Thursday, Feb. 2, 2023. The Bank of England is expected to raise interest rates by as much as half a percentage point. That would outpace the latest hike by the U.S. Federal Reserve. The move on Thursday comes as the central bank seeks to tame decades-high inflation that has driven a cost-of-living crisis and predictions of recession. (AP Photo/Frank Augstein)

A man walks down steps in front of the Bank of England in London, Thursday, Feb. 2, 2023. The Bank of England is expected to raise interest rates by as much as half a percentage point. That would outpace the latest hike by the U.S. Federal Reserve. The move on Thursday comes as the central bank seeks to tame decades-high inflation that has driven a cost-of-living crisis and predictions of recession. (AP Photo/Frank Augstein)

A woman walks along a street in a shopping district in central London, Thursday, Feb. 2, 2023. The Bank of England is expected to raise interest rates by as much as half a percentage point Thursday as it seeks to tame the double-digit inflation fueling a cost-of-living crisis, public-sector strikes and fears of recession. (AP Photo/Kin Cheung)

A woman walks along a street in a shopping district in central London, Thursday, Feb. 2, 2023. The Bank of England is expected to raise interest rates by as much as half a percentage point Thursday as it seeks to tame the double-digit inflation fueling a cost-of-living crisis, public-sector strikes and fears of recession. (AP Photo/Kin Cheung)

A man smokes on a street in central London, Thursday, Feb. 2, 2023. The Bank of England is expected to raise interest rates by as much as half a percentage point Thursday as it seeks to tame the double-digit inflation fueling a cost-of-living crisis, public-sector strikes and fears of recession. (AP Photo/Kin Cheung)

People walk past the Bank of England in London, Thursday, Feb. 2, 2023. The Bank of England is expected to raise interest rates by as much as half a percentage point. That would outpace the latest hike by the U.S. Federal Reserve. The move on Thursday comes as the central bank seeks to tame decades-high inflation that has driven a cost-of-living crisis and predictions of recession. (AP Photo/Frank Augstein)

Bank of England rate hike says ‘too soon to declare victory’