prep的一道难题

In hoping to restrain economic growth, interest rates were raised by British policymakers, making it
more expensive to borrow for businesses and consumers.
(A) In hoping to restrain economic growth, interest rates were raised by British policymakers,
making it more expensive to borrow for businesses and consumers.
(B) Making it more expensive for businesses and consumers to borrow, interest rates were raised
by British policymakers, in hopes of their restraining economic growth.
(C) In making borrowing for businesses and consumers more expensive, British policymakers, in
hopes they will restrain economic growth, had raised interest rates.
(D) Hopefully restraining economic growth, British policymakers raised interest rates, making more
expensive borrowing by businesses and consumers.
(E) Hoping to restrain economic growth, British policymakers raised interest rates, making it more expensive for businesses and consumers to borrow

答案是E,但是我不明白E中的it指代什么？

思考了良久，还是觉得这个it指money ，是 形式宾语（先行宾语），用it作形式宾语，把真正的宾语放到句子后部去，但是这里的money省略了，所有让人觉得没有指代

请nn帮我看看，我这样解释对否？

自己再顶一下