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18th March 2022 - Bank warns of 10% inflation
"The Bank of England’s Monetary Policy Committee voted to raise interest rates by 0.25% at its latest meeting, which concluded yesterday.
The committee voted by a majority of 8-1 in favour of the hike. The only dissenting voice was that of Sir Jon Cunliffe, the Bank’s deputy Governor for financial stability.
The focus of the Central bank has switched latterly to fighting inflation despite the threat that the conflict in Ukraine brings fears of a slowdown in economic activity.
In its latest economic forecasts published last month, the Bank predicted that inflation would peak at 7.25% next month. That expectation has already been changed, and a peak of 8% has become the core expectation.
However, despite the Bank’s view, market analysts are raining their expectations almost weekly and have now reached 10%.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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By CurrencyTransfer
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"The Bank of England’s Monetary Policy Committee voted to raise interest rates by 0.25% at its latest meeting, which concluded yesterday.
The committee voted by a majority of 8-1 in favour of the hike. The only dissenting voice was that of Sir Jon Cunliffe, the Bank’s deputy Governor for financial stability.
The focus of the Central bank has switched latterly to fighting inflation despite the threat that the conflict in Ukraine brings fears of a slowdown in economic activity.
In its latest economic forecasts published last month, the Bank predicted that inflation would peak at 7.25% next month. That expectation has already been changed, and a peak of 8% has become the core expectation.
However, despite the Bank’s view, market analysts are raining their expectations almost weekly and have now reached 10%.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.