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LONDON — Britain’s central bank on Thursday raised its key interest rate again but toned down the pace as inflation shows signs of easing, mirroring action by the U.S. Federal Reserve and European policymakers. The Bank of England raised the benchmark rate by half a percentage point, to 3.5%, the highest level in 14 years. The bank last month forecast a prolonged recession in the U.K. and consumer price inflation staying “very high” in the near term.

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