LONDON, Nov. 6 (Xinhuanet) -- British central bank, the Bank of England, decided Thursday to raise the benchmark interest rates by 0.25 points from a 48-year low of 3.5 percent to 3.75 percent.

    This is the first such increase by one of the world's four major central banks in response to a looming global economic recovery and was in line with a wide expectation of economists.

    The decision by the bank's monetary policy committee to hike the main official lending rate for the first time since February 2000 comes amid concerns about galloping consumer credit and a seemingly unstoppable rise in house prices. Enditem