Bank of England gilt sales 'unlikely to upset markets too much'

The central bank also predicted the UK will likely fall into a recession in the fourth quarter of 2022, as growth concerns mount off the back of the central bank raising rates by 0.5% to 1.75% today, its largest hike in 27 years. The meeting on Thursday (4 August) confirmed adjusted inflation projections would exceed 13% by the end of the year and the committee said it expected CPI to remain elevated throughout much of 2023. It maintained inflation would fall to its 2% target in two years, although this would fall further than the target to 0.8% in 2025. Should market conditions re...