Bank of England raises rates to 3.5%, expects more rises to come
The move follows the U.S. Fed's decision to raise its main rate by half a percentage point as Western central banks grapple with inflation, post-COVID labor shortages and the impact of Russia's invasion of Ukraine on energy prices.
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### Instruction: Bank of England raises rates to 3.5%, expects more rises to come

### Response: The move follows the U.S. Fed's decision to raise its main rate by half a percentage point as Western central banks grapple with inflation, post-COVID labor shortages and the impact of Russia's invasion of Ukraine on energy prices.