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Bank of England poised to raise rates but may push back on bets for more
MANCHESTER: The Bank of England is expected to bow to inflation pressure from soaring energy costs and raise interest rates on Thursday, though it may push back against investors’ bets that several more increases will follow next year. Economists polled by Reuters expect the BoE to raise Bank Rate to 4.0% from 3.75%, its first hike since August 2023, when inflation was still more than triple its 2% target. The BoE was criticised for underestimating how persistent inflation would prove the last time energy costs surged, and it is wary of being caught out again, with global energy prices high ...
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