Interest rates set to rise again to 0.75%13 Mar 2022 11:03
The Bank of England looks set to lift interest rates to 0.75% on Thursday, its third rate rise in a row as it seeks to tame a dramatic surge in inflation that has been intensified by Russia's invasion of Ukraine.
Last month the BoE forecast consumer price inflation would peak at about 7.25% in April, when household energy tariffs are due to rise by more than half.
George Buckley economists at Nomura bank think inflation might exceed 8% later this year and rates will rise again in May, August, November, and February next year taking the bench-mark to 1.75 per cent