Business this week

The Bank of England raised its benchmark interest rate by a quarter of a percentage point to 0.5%, its first rate increase in a decade. After the Brexit referendum last year the bank cut the rate from 0.5% to 0.25%, but inflation, at 3%, is now well above the bank’s 2% target and the economy is proving to be more robust than expected. For example, data out this week suggest that manufacturing is thriving. See article