Bank of England expected to raise rates
The Bank of England is widely expected to raise interest rates to four percent due to mounting inflation pressures from the ongoing conflict in the Middle East. Economists predict a seven to two majority vote by the Monetary Policy Committee for the hike.
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The Bank of England is widely expected to raise interest rates by 25 basis points to 4% on Thursday morning, marking its first hike in three years. Economists surveyed by Reuters project a 7-2 vote by the Monetary Policy Committee to move away from the 3.75% rate held since last December. This pivot mirrors tightening cycles already executed by central banks across major global economies.
