At its meeting on 2 November 2022, the Bank of England (BoE) has decided to increase the Bank Rate by 75 basis points to 3%. This decision was taken in spite of the fact that the UK economy is now likely to be entering a prolonged recession. Explain to what extent this step could be considered unusual, and evaluate the reasons that have ledin your viewto the BoE opting to raise interest rates at this time. (25 marks)