BoE hikes 50bps, CPI to peak at over 13%, GDP to contract -1% in Q4

BoE raises Bank Rate by 50bps to 1.75% by 8-1 vote. Known dove Silvana Tenreyro voted for just 25bps hike. In the accompanying statement, BoE said the MPC will “take the actions necessary to return inflation to the 2% target sustainably in the medium term”. Policy is “not on a pre-set path”. But it will […]

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