NEWS ALERT : Bank of England to raise rates in late 2022, possibly sooner - Reuters Poll
Reuters - 80% of respondents backed the sooner rate hike from the Bank of England (BOE) during the September 6-9 Reuters poll.
"The Bank of England will raise borrowing costs by end-2022, earlier than previously thought, and there is a chance it comes even sooner as a solid economic recovery from the pandemic and high inflation may tip its hand," revealed the survey.
The poll also mentioned that the bank rate was seen rising to 0.25% in the fourth quarter of 2022 from its current record low of 0.10%, versus the August poll showing no change.
In a separate poll, Reuters also stated, "Such a move would put the BoE ahead of the U.S. Federal Reserve, which is not forecast to raise interest rates until 2023, although the Fed is expected to announce a plan to taper its asset purchases this month."
GOOD FOR GBP
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Reuters - 80% of respondents backed the sooner rate hike from the Bank of England (BOE) during the September 6-9 Reuters poll.
"The Bank of England will raise borrowing costs by end-2022, earlier than previously thought, and there is a chance it comes even sooner as a solid economic recovery from the pandemic and high inflation may tip its hand," revealed the survey.
The poll also mentioned that the bank rate was seen rising to 0.25% in the fourth quarter of 2022 from its current record low of 0.10%, versus the August poll showing no change.
In a separate poll, Reuters also stated, "Such a move would put the BoE ahead of the U.S. Federal Reserve, which is not forecast to raise interest rates until 2023, although the Fed is expected to announce a plan to taper its asset purchases this month."
GOOD FOR GBP
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