![]() ![]() Investec Economics predicts the Bank will opt for a bigger 0.5 percentage point increase, before pushing through a final quarter-point hike in September.Ĭomments from Dave Ramsden, the only member of the MPC who has spoken publicly since the latest inflation data, don't suggest he's in the mood for caution. He said the slowdown in inflation could "tip the balance" towards a 25 basis point rise. "The economy is clearly far too hot for the Monetary Policy Committee to relax," said Thomas Pugh, economist at the audit company RSM UK. This month's lower than expected inflation figure - it dropped to a still-high 7.9% - means the Bank's decision is not as clear-cut as might have been anticipated a few weeks ago.Īn uptick is still expected, with a majority of economists thinking it will be 0.25 percentage points to 5.25%. ![]() The rate is currently 5% having been raised at every opportunity since the end of 2021 as the Bank of England has sought to slow spending and encourage saving in a bid to control prices/inflation. On Thursday we'll learn whether the Bank rate will rise for the 14th time in a row.
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