BOE set to raise bank rate by 50 bps next week - Reuters poll

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BOE set to raise bank rate by 50 bps next week - Reuters poll

<ul><li style="" class="text-align-justify">52 of 54 economists said BOE will raise bank rate by 50 bps next week</li><li style="" class="text-align-justify">Only 2 economists expect a 75 bps rate hike next week</li><li style="" class="text-align-justify">Median chance of 85% that UK economy headed towards a recession within a year</li><li style="" class="text-align-justify">Majority of respondents see the recession as one that would be long and shallow</li><li style="" class="text-align-justify">The median for the bank rate peak is seen at 4.25%, forecasts ranged between 3.50% and 4.75%</li></ul><p style="" class="text-align-justify">This will follow the 75 bps rate hike in November <a href="https://www.forexlive.com/centralbank/boe-raises-bank-rate-by-75-bps-to-300-as-expected-20221103/" target="_blank" rel="follow">here</a>. In commenting on the forecasts above, HSBC says that:</p><p style="" class="text-align-justify">"We think it will be a 50 bps rise, taking the bank rate to 3.50%, with risks weighted towards a larger 75 bps move, rather than a smaller 25 bps one."</p>

                This article was written by Justin Low at www.forexlive.com.

Source: BOE set to raise bank rate by 50 bps next week - Reuters poll

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