The Bank of England this week is expected to push through the biggest interest-rate increase in 27 years and unveil its strategy for unwinding some of the £895 billion ($1.1 trillion) of stimulus it delivered over the past decade. The measures would accelerate a historic tightening of monetary policy to choke off the worst bout of inflation in 40 years. Governor Andrew Bailey and his colleagues have warned that prices may leap 11% this year, well above the 2% target. The UK central bank also is concerned about falling behind peers, especially the US Federal Reserve, which raised rates a total of 1.5 points at its past two meetings. For the BOE, rate increases also will underpin the value of the pound, which has fallen 10% against the dollar this year. “The […]