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 policy makers, in hopes of their restraining economic growth.

C) In making borrowing for businesses and consumers more expensive, Brithish 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.

the answer is E(sorry I can not type Chinese)

My question is what represents "it" in E choice.

Choice D "hopefully" is incorrect?