The Bank of England has hiked up interest rates after UK inflation unexpectedly jumped higher last month.<br /><br />The move by policymakers on the bank’s Monetary Policy Committee is a bid to put a lid on soaring prices.<br /><br />They voted seven to two to increase rates from 4 per cent to 4.25 per cent, but expect the economy to grow slightly in the second quarter of the year.<br /><br />Inflation is set to come back down despite the surprise increase in Consumer Prices Index.
