Bank of England expected to raise rates in November
Economists in a Reuters poll expect the Bank of England to raise its benchmark rate to four percent in November. Persistent inflation and strong economic growth are driving the shift in expectations.
The United Kingdom will see its central bank raise borrowing costs by 25 basis points to 4.0% in November, according to a Reuters survey of economists. This shift reverses previous consensus views after inflation proved more persistent than anticipated. Financial markets are fully pricing in four quarter-point increases by the end of next year as policymakers battle cost pressures.
