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C25 Investors widely expected the rate increase.
City economists had expected the rate to stay stable.
Economists had expected the rate to remain 9 percent.
Economists had expected the rate to drop to 4.0percentt from 4.1percentt in March.
Analysts had almost uniformly expected the rate increase, the second such move since June 30.
They never expected the rate to soar to its current level of 12.7 percent.
Analysts had expected the rate, which fell to its steepest number in nearly a year, to increase 0.1percentt.
It is also expected the rate will be set on levels at which banks have borrowed rather than their predictions.
Economists had expected the rate as measured by the consumer prices index (CPI) to hold at zero, according to the consensus in a Reuters poll.
Although it was slightly better than economists expected, the rate was the slowest since the 6.2% recorded in the first quarter of 2009 during the global recession.
Inflation rose by a quarter in November to its highest level in five months, official figures revealed today, surprising analysts who had expected the rate to remain unchanged.
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