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BOE surprises with 50 bps rate hike, bringing bank rate to 5.00%

Prior 4.50%Bank rate vote 7-2 vs 7-2 expected (Dhingra, Tenreyro voted to keep rates at 4.50%)Continuing to monitor closely the impact of the significant rate hikes so farCore goods price inflation has also been much stronger than projectedBut CPI inflation is expected to fall significantly further during the course of the yearFood price inflation is projected to fall further in coming monthsIf there were to be evidence of more persistent pressures, then further tightening in monetary policy wou... Read More

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Posted: Jun 22 2023, 11:00

Author Name: forexlive

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