Base rate?14 Oct 2021 13:35
The consensus here seems to be for a base rate rise next month/this year followed by another uptick during the first 3 months next year.
It's just a matter of which news source you read.
People always have a pop at the Motley whenever someone mentions them but other financial reporting outlets are no better, they just seem to have more kudos.
Financial journalist are just making a living whoever they write for.
FOR.
The BoE, facing a rise in inflation, looks set to be the first major central bank to raise interest rates since the beginning of the pandemic.
The pound jumped against the dollar on Monday after BoE governor Andrew Bailey stressed the need to prevent inflation from becoming permanently embedded, and fellow policymaker Michael Saunders said households must brace for "significantly earlier" interest rate rises.
AGAINST.
The Bank of England should not raise interest rates to tackle a surge in inflation caused by higher prices for energy and semi-conductors if it thinks these effects will be short-lived, BoE policymaker Silvana Tenreyro said.
Investors currently expect the BoE to raise interest rates from their current 0.1% before the end of the year, but last month's BoE policy minutes showed officials were split over whether certain pre-conditions for a rate rise had been met.
A reported slowdown of the August GDP data released on Wednesday showed Britain's economy is on course to grow by less in the third quarter than the BoE had forecast.
Who knows? Not even Andrew Bailey, although he probably has a bit more sway, it's all waffle until they vote.