Interest rates are likely to increase.
The biggest hike in interest rates for more than three decades is expected to be announced by the Bank of England today.
“Investors think the most likely outcome is that the MPC will increase the Bank rate by 75bp on Thursday,” said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.But he said that economists are expecting a smaller rise, to 2.25% – the same 0.5 percentage point change as the Bank’s last hike.
“We narrowly favour a 50bp hike on Thursday, taking the Bank Rate to 2.25%, although 75bp is clearly on the table and we would expect at least a couple of policymakers to vote for it.”
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