On 22nd September 2022 the Bank of England (BOE) raised the base rate from 1.75% to 2.25%, as was widely anticipated.
The Monetary Policy Committee (MPC) was forced to raise interest rates as the annual inflation rate, which now sits at 9.9%, remains close to its highest level for 40 years. The BOE is now predicting that inflation could rise to 11% by October and the market is therefore pricing in further rate hikes in 2022.
In this video, I give my latest predictions on whether the Bank of England base rate is likely to increase in the coming months and if so, by how much.
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