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

Investing.com | Jun 15, 2022 at 7:02 PM
  • The Bank of England looks set to override its worries about a sharp slowdown in the British economy and raise interest rates again on Thursday as it tries to tackle an inflation rate on course for double digits.
  • After the U.S. Federal Reserve upped borrowing costs by the most since 1994 with a 75 basis-point rate hike on Wednesday, the big question for investors awaiting the BoE’s June policy announcement at 1100 GMT is the size of the increase.
  • Part of the British inflation problem is the country’s mechanism for regulating domestic power prices which means the rise in prices is likely to last longer than elsewhere.