BoE Rates May Rise If Energy Prices Stay High
Bank of England Deputy Governor Clare Lombardelli stated that interest rates will likely need to rise if energy prices remain elevated. She noted that persistent energy costs risk fueling inflation expectations and wage pressures across the economy.
Bank of England Deputy Governor Clare Lombardelli warned Thursday morning that interest rates will likely need to rise if energy prices remain elevated. The warning follows a 6-3 vote to hold rates at 3.75%. Markets now price a 75% probability of a rate hike in November.
