LONDON, Aug 2 Reuters The Bank of England, which looks set to raise interest rates again on Thursday, must weigh up the need to fight an inflation rate running at more than four times its target against the hit to the economy from 13 backtoback rate hikes so far.

Analysts and investors are mostly expecting a quarterpoint increase in Bank Rate, taking it to a 15year high of 5.25. They will also be watching for the signals the BoE sends about further increases in the coming months.

Governor Andrew Bailey and his colleagues say the economic impact of their run of rate hikes stretching back to late 2021 has yet to be felt fully. But they also say they must quash an inflation rate that is the highest among major economies.

Below is a summary of key data that the BoE will be watching before its announcement on interest rates at 1100 GMT on Thursday which will be followed by a news conference given by Bailey and other top officials at 1130 GMT.

INFLATION THREAT

British consumer price inflation fell by more than expected in June to 7.9 in annual terms, down sharply from 8.7 in May. But it remained the highest among the Group of Seven economies.

A measure of underlying price growth core inflation, which excludes energy, food, alcohol and tobacco prices and price increases in the services sector also eased but remained close to the 31year highs they hit in May.

HOUSING MARKET

The most obvious impact of the increase in the BoE39;s Bank Rate from 0.1 in December 2021 to…