UK's Hunt backs Bank of England after latest rate hike

British finance minister Jeremy Hunt said the Bank of England had his full support after the central bank raised interest rates for the 13th time in a row on Thursday to try to tackle high inflation.

"The Bank of England has my full support as you take action to return inflation to ... target through your independent monetary policy decisions," Hunt said in a letter to BoE Governor Andrew Bailey.

Hunt also said that "tackling inflation relentlessly must be the immediate priority".