1333 GMT - The Bank of England Monetary Policy Committee "stands ready to act", signaling a tone in stark contrast to the dovish one struck at the last meeting, with the shift driven by the shock to energy supply, BlackRock Investment Institute's Vivek Paul says in a note. Just three weeks ago, markets priced in two quarter-point rate cuts this year. Now they are pricing in the possibility of two rate increases as the BOE's forward guidance puts hikes on the table, the U.K. chief investment strategist says. Oil and gas prices have surged due to production and delivery fallouts in energy due to the Middle East conflict. "Policymakers face an even more challenging backdrop in a world shaped by supply," he says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
March 19, 2026 09:33 ET (13:33 GMT)
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