Bank of England Seen Raising Interest Rates Up to Four Times in Next Year
Source Summary
City analysts expect the Bank of England to raise interest rates as many as four times over the next year, following the UK economy's 0.4 per cent growth in July, which exceeded forecasts. Governor Andrew Bailey is widely expected to oversee an interest rate hike in November, though the Monetary Policy Committee is anticipated to hold rates steady at an upcoming decision.
Why it matters
Interest rate decisions by the Bank of England directly affect borrowing costs for businesses and households across the UK economy.
What remains uncertain
The exact timing and number of rate hikes remain subject to economic conditions and MPC decisions.
