Interest rate rise could be higher than expected next month, Bank of England chief suggests
The BoE is due to announce its next decision on interest rates on 3 November and many investors think it will either raise them from their current level of 2.25% to 3% or possibly 3.25%, both of which would be much bigger moves than usual."And, as things stand today, my best guess is that inflationary pressures will require a stronger response than weThe bank previously predicted the rate of inflation would peak at 11% in October.
He added:"The MPC will respond to all this news at its next meeting in just under three weeks from now."This is the correct sequence in my view. We will know the full scope of fiscal policy by then." "But a very clear message I would give and it's a clear message for everybody, including a clear message for markets.
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