Bank of England Is Latest Central Bank to Raise Rates Following Fed Increase

LONDON—Central banks and governments all over the world moved to extend rates of interest or assist their currencies after the Federal Reserve raised charges and signaled that they’d stay excessive for a while, giving contemporary impetus to an already robust greenback.

The Bank of England was the newest to regulate charges greater, elevating its key rate of interest for the seventh consecutive time Thursday. Solely the Bank of Japan—typically thought of a perennial dove—and the customarily contrarian Turkish central financial institution bucked the pattern, although Japan’s authorities later stated it intervened in foreign money markets to promote {dollars} and purchase yen, the primary such intervention in 24 years, to gradual the current fall within the Japanese foreign money.