The Bank of England is under pressure to raise interest rates by as much 0.5 percentage points to 5 per cent this week in a fresh headache for Rishi Sunak as he faces a political backlash over theThe Office for National Statistics is expected to confirm on Wednesday that inflation is continuing to fall, with Deutsche Bank predicting it will nudge downwards to 8.5 per cent from its previous level of 8.7 per cent.
But with prices remaining stubbornly high, the Prime Minister and Chancellor have warned they have no choice but to continue to try driving down inflation even asThe Bank of England is widely expected to raise rates by 0.25 percentage points on Thursday despite a dip in inflation, but some experts are saying it may have to rise by as much as 0.5 percentage points which would bring it to 5 per cent.
The Bank of England has hiked rates 12 consecutive times since December 2021, though the two most recent increases have been by a margin of 0.25 percentage points. Its economists will be voting on Thursday on how much to increase by for the 13th time in one of their most difficult decision in recent years.
Source: Loan Digest (loandigest.net)
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Will a Bank of England rate rise be enough to calm UK markets?\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Source: FT - 🏆 113. / 51 Read more »
Source: ShropshireStar - 🏆 98. / 51 Read more »
Rishi Sunak under pressure to break silence over Boris Johnson report\n\t\t\tGet local insights from Lisbon to Moscow with an unrivalled network of journalists across Europe,\n\t\t\texpert analysis, our dedicated ‘Brussels Briefing’ newsletter. Customise your myFT page to track\n\t\t\tthe countries of your choice.\n\t\t
Source: FT - 🏆 113. / 51 Read more »
Source: LBC - 🏆 17. / 74 Read more »
Source: MetroUK - 🏆 13. / 82 Read more »
Source: BelfastLive - 🏆 16. / 77 Read more »