With the Bank of England predicted to continue increasing interest rates, the pound has surged and is now recognized as the best-performing currency among developed economies this year.
With the Bank of England predicted to continue increasing interest rates, the pound has surged and is now recognized as the best-performing currency among developed economies this year.
Andrew Bailey, the governor of the Bank of England, has suggested that interest rates might have reached their highest point, following 10 consecutive hikes in the official borrowing cost since
The Bank of England raised interest rates by 0.5% to 4pc. This is the highest rate since the financial crisis.
The Bank of England warned that Britain’s workforce would be permanently smaller following the pandemic. This will lead to stagnation.
A majority of 7-2 votes in favour of increasing the Bank Rate by 0.5% to 4% by the Monetary Policy Committee.
The Bank of England will raise interest rates for the tenth time in succession at its policymakers’ meeting this week to further squeeze the finances of businesses and mortgage holders.
European stock markets are likely to open lower as investors prepare for central bank decisions in the UK and US later this week.
Threadneedle Street received a return of approximately 20pc from the buyers who paid £23bn to buy the bonds.
The Bank of England announced its ninth consecutive increase in interest rates. This brings them to their highest level since before the global financial crisis.
Analysts predict a 0.75 percentage-point increase, possibly the largest hike in base rate since 1989.
They will provide commentary on expected further monetary tightening and reveal interest rate decisions, which have been the dominant influence on stock market behaviour this year.