The Bank of England has hiked rates for the fifth time in a row to try and rein in inflation. The Monetary Policy Committee voted 6-3 to increase the benchmark lending rate by 25 basis points to 1.25%. The bank faces the difficult task of bringing consumer prices back under control against a backdrop of slowing growth and a rapidly depreciating currency, as well as a major cost of living crisis in the UK.

For more on the story, we were joined by Massimo Massimilla, who is partner and CIO of Albemarle Asset Management, in London.

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