An interest rate rise today may not be the done deal the market expects, commentators have warned, pointing to little change in economic data since the last Monetary Policy Committee (MPC) meeting.
Markets are currently pricing in a 90% chance the Bank of England (BoE) will raise rates by 0.25% for the first time since June 2007 at its November meeting today with all signs seeming to point to a hike. BoE governor Mark Carney last month revealed a more hawkish stance when he said the Bank could begin "easing its foot off the accelerator" before the end of the year. Furthermore, although the MPC held rates at 0.25% in September, minutes said a tightening of monetary policy could occur due to the "slightly stronger than anticipated" UK economy. SocGen's Edwards: BoE monetary pol...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
