LONDON: The Bank of England raised its key interest rate by a quarter of a percentage point to a 15-year peak of 5.25% on Thursday, and gave a new warning that borrowing costs were likely to stay high for some time. Unlike the U.S. Federal Reserve or the European Central Bank - which also both raised rates by a quarter-point last week - the BoE's Monetary Policy Committee gave little suggestion that rate hikes were about to end as it battles high inflation. "The MPC will ensure that Bank Rate is sufficiently restrictive for sufficiently long to return inflation to the 2% target," the BoE said in fresh guidance about the outlook for borrowing costs.

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