Experts have warned that inflation may not have fallen low enough to prevent another hike in interest rates
The Bank of England is set to announce whether it will increase interest rates again later this month.
Speaking after the April inflation announcement at the end of May, Jonathan Haskel, a member of the BoE's decision-making body, told an audience in Washington DC that the Bank might be forced to increase interest rates again in order to bring inflation back to its 2 per cent target. Meanwhile, the International Monetary Fund warned that “monetary policy will need to remain tight to keep inflation expectations well-anchored and bring inflation back to target”. IMF managing director Kristalina Georgieva told a press conference: “The discussion around interest rates has somewhat shifted from ‘how high?’ to ‘for how long?’"
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