The Bank of England raised interest rates by a quarter of a percentage point Thursday.
Mandatory Credit:	Ben Stansall/AFP/Getty Images

The Bank of England raised interest rates by a quarter of a percentage point Thursday.
Mandatory Credit: Ben Stansall/AFP/Getty Images

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Bank of England hikes interest rates for 12th time in battle with inflation

The Bank of England raised interest rates by a quarter of a percentage point Thursday in its battle with inflation and said the UK economy would dodge a recession as energy prices fall.