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Rate rise likely amid concerns over rising oil price
A rise in the cost of borrowing looks increasingly likely after two of the Bank of England’s interest rate-setters hinted at changing their vote from hold to hike in the wake of rising energy prices. Clare Lombardelli and Sarah Breeden, two of the Bank’s deputies who sit on the monetary policy committee, voted to keep interest rates unchanged at its meeting last week. Three of the nine members have voted to increase borrowing costs at its last two meetings. [...]