Money markets bet UK interest rates will rise to 4% by May

More than doubling today’s interest rate

clock • 1 min read
Money markets bet UK interest rates will rise to 4% by May

Markets are betting that the Bank of England will be forced to more than double interest rates by next May as it continues to battle with the highest levels of inflation seen in over 40 years.

Traders in the Overnight Index Swap market, which sets prices based on expectations of future official interest rates, are expecting rates to rise to 2.75% by the Bank of England's November meeting...

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