Bank of England to add 50 bps to Bank Rate on December 15; peak at 4.25% in Q2 – Reuters poll – by anilpanchal7 BOE SentimentPoll GBPUSD RiskAppetite Inflation
will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50%, despite the economy falling into recession, as it battles inflation running at more than five times its target,” stated the latest survey from Reuters.One of the first major central banks to start unwinding the ultra loose policy adopted globally during the pandemic, the BoE went for a 75 bp lift last month but was expected to add a more modest 50 on Dec.
In last month's survey, Bank Rate was expected to peak at 4.25% next quarter and there was a big divide between economists in the latest survey as to when and where it would level out. Inflation was seen peaking at 10.9% this quarter, higher than the 10.7% estimate given last month before drifting down. However, it won't reach the Bank's 2.0% goal until the third quarter of 2024.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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