The Bank of England (BoE) on Thursday decided to raise the bank rate by 50 basis points, from 3 percent to 3.5 percent, to tackle inflation, marking its ninth rate rise in a row.

The BoE's Monetary Policy Committee voted 6-3 in favor of the move, and said the monetary policy was set to meet the 2 percent inflation target, sustain growth and employment, according to a statement.

(Cover: A man walks past the Bank of England in London, England, United Kingdom, November 3, 2022. /CFP)