BoE accelerates tightening as inflation expected to hit 13%

The Bank of England speeded up its monetary tightening today (August 4), as it predicted sharply higher UK inflation by the end of the year.

The BoE’s policy-makers voted 8–1 to increase the policy rate by 50 basis points, to 1.75%. Previously, members of the monetary policy committee had voted for hikes of 25bp or less.

The BoE also revised its headline forecast for inflation in the fourth quarter of 2022 to 13.1%, three percentage points higher than the May forecast.

The vast majority of

You are currently unable to copy this content. Please contact [email protected] to find out more.

Source link

Free Course

"Double Your Traffic in 30 days" + Secret Bonus

valued at $299

This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.

100% Privacy. We will never spam you!