LONDON, Sept 21 — The Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches back to December 2021, a day after signs that it...
LONDON, Sept 21 — The Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches back to December 2021, a day after signs that it had turned a corner in tackling Britain’s high inflation problem.
Other analysts said they still thought a final BoE rate hike was the most likely outcome after a recent jump in global oil prices, but they stressed it could go either way. At 6.7 per cent in August, inflation is falling towards the 5 per cent level that the BoE predicts for the coming months - and which British Prime Minister Rishi Sunak has promised to voters ahead of an election expected next year.
“While the BoE will no doubt try to project a ‘higher for longer’ message, as the ECB has since its rate hike last week, history tells us that once the peak is in, forward rates move notably lower,” Dominic Bunning, head of European FX Research at HSBC, said in a note to clients.
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