BOE Likely to Push Back Markets' Rate Rise Expectations
Dow Jones11-02 23:09
1509 GMT - The Bank of England is likely to resist market pricing of four rate rises over the coming year at Thursday's policy meeting, Bank of America strategists say in a note. The BOE is nonetheless expected to raise interest rates to 4% as a risk management move given rising U.K. inflation, they say. "We expect the monetary policy committee to temper the market's enthusiasm for an aggressive hiking trajectory, which would likely be seen ex-poste as a gentle appeal for calm." Ten-year gilt yields fall to last trade at 5.192%, a six-week low, LSEG data show.
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