A poll of financial analysts suggests there will be a 15th consecutive rise in the Bank of England base rate next month
as the Bank of England will move to steer the economy away from a prolonged recession, economists have predicted.
Despite that, all but one of the 62 economists polled by Reuters said they expect the base rate to rise by 0.25 percentage points – from 5.25 per cent to 5.5 per cent – next month. The one remaining analyst preferred a half-point hike to 5.75 per cent. The economists in the survey expected inflation to average at 6.8 per cent this quarter before falling further to 4.7 per cent in the last three months of the year. However, they did not foresee it falling below the Bank’s 2 per cent target until at least 2025.
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