The Bank of England is set to raise interest rates by the highest level in 27 years

It comes after the National Institute of Economic and Social Research predicted the UK would slide into a recession this week.

The UK is "something of a laggard" behind other countries in boosting interest rates, according to another analyst. Three members of the committee voted to speed up rate hikes at the last meeting in June, although the Bank ended up raising rates to 1.25% from 1%. Luke Bartholomew, a senior economist at asset manager Abrdn, said: "After a number of central banks across the world have picked up the pace of their tightening cycle, the Bank of England is starting to look like something of a laggard when it comes to raising rates."We expect this impression to be somewhat corrected next week with the Bank hiking interest rates by half a per cent."But the hike should not be taken for granted, other economists have warned.

Samuel Tombs and Gabriella Dickens, economists at Pantheon Macroeconomics, said: "The MPC's interest rate decision next week is a very close call, but on balance we think the committee will stick to its slow and steady approach. "The MPC began its tightening cycle earlier than the US Fed and the ECB , leaving it with less need to rush now.

All in it together, wankers.

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.

Bank of England risks falling behind the curve\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t Risks ? It's already way behind it Not helped by Andrew Bailey and Dodo Harding. They have been behind the curve for over 12 months lol
Source: FT - 🏆 113. / 51 Read more »

Football ticket scams increase ahead of new season, Lloyds Bank warnsThe bank urged people to be cautious when buying tickets for major events and to buy tickets directly from clubs or official ticket partners. ouch? 🤕 Horsey worsery, don’t care bout you!
Source: SkyNews - 🏆 35. / 67 Read more »

Cost of living: Energy bills forecast to hit £3,615 a yearMany families are already facing soaring costs, with UK inflation at the highest in 40 years. Share evenings with a neighbour.
Source: BBCLondonNews - 🏆 115. / 51 Read more »

Cost of living: Energy bills forecast to hit £3,615 a yearMany families are already facing soaring costs, with UK inflation at the highest in 40 years. I had to turn my immersion heater off yesterday as i can no longer afford hot water. Not sure what else i can turn off. Ive had enough to be honest. Nobody should have to live like this in 2022! Where are the protests a riots? If anybody wants to start organising I'll be available Record profits for the next 18 months for the companies …. Record bills for the people .. Conservatives trussliz RishiSunak
Source: BBCNews - 🏆 3. / 97 Read more »

Taiwan: Nancy Pelosi meets President Tsai to Beijing's furyThe highest-ranking US politician to visit Taiwan in 25 years arrives despite warnings from China. BBC at Six & at Ten I have serious interrogation to News Programs around the world whose programs are rebroadcasting on NHK in JP at esp the time of longest-serving JP-PM's assassination as follow 1.2.3.ASAP! I thought she was not going as a representative of the American government? Also extremely dangerous: Paul Pelosi allegedly slurred speech, had drug in system and handed over police privilege card during DUI bust Explore the Fox News apps that are right for you at
Source: BBCNews - 🏆 3. / 97 Read more »

Bank of England risks falling behind the curve\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t Risks ? It's already way behind it Not helped by Andrew Bailey and Dodo Harding. They have been behind the curve for over 12 months lol
Source: FT - 🏆 113. / 51 Read more »