Bank of England set to raise rates again as inflation heads for 10%

Investing.com | Jun 10, 2022 at 3:53 PM
  • Rich nations, investors and most economists are predicting a quarter-point rate hike by the BoE next Thursday.
  • Expectations for British borrowing costs over the next couple of years have risen sharply recently and they jumped again this week when the European Central Bank flagged rate hikes at its next two meetings, including a possible half percentage-point rise in September.
  • The BoE was the first big central bank to start reversing its pandemic stimulus in December, before the U.S. Federal Reserve and others began to move to head off the jump in inflation caused by the reopening of the world economy after the coronavirus pandemic and then Russia’s invasion of Ukraine.