{"id":43460,"date":"2023-09-19T09:39:34","date_gmt":"2023-09-19T09:39:34","guid":{"rendered":"https:\/\/histarmar.net\/?p=43460"},"modified":"2023-09-19T09:39:34","modified_gmt":"2023-09-19T09:39:34","slug":"boe-preview-final-rate-hike-on-cards","status":"publish","type":"post","link":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/","title":{"rendered":"BoE Preview: Final Rate Hike On Cards"},"content":{"rendered":"

The Bank of England is all set to end its tightening cycle with a final rate hike this week as any further increase will push the UK economy<\/span> into a deep recession. <\/p>\n

The record high wage growth as well as persistently high inflation strengthened the call for additional policy tightening. <\/p>\n

However, the past rate hikes have started to damp the economic activity. Recent economic indicators suggest that the economy has entered a mild recession. <\/p>\n

Markets widely anticipate a quarter-point increase on September 21, a day after the release of the consumer price inflation data. <\/p>\n

Although inflation has continued to weaken over the recent months, July’s 6.8 percent was more than double the official target of 2 percent. <\/p>\n

The central bank has increased its policy rate over the last 14 consecutive sessions. At 5.25 percent, the bank rate is currently the highest since early 2008.<\/p>\n

As seen in August, a three-way split on the nine-member Monetary Policy Committee, led by Governor Andrew Bailey, is more likely with members seeking a half percentage point and a quarter point hike, while others calling for no change. <\/p>\n

Capital Economics’ economist Paul Dales said sticky inflation would force the BoE to keep interest rates at their peak 5.50 percent until late in 2024. <\/p>\n

However, once the bank eventually starts cutting the rate, they will be reduced further and faster than investors anticipate, Dales added.<\/p>\n

The BoE can probably afford to end its tightening cycle this week, ING economists said. <\/p>\n

“Assuming though that the fall in services inflation and wage growth is pretty gradual, we think a rate cut is unlikely until at least the second quarter of next year,” they added.<\/p>\n

At the August meeting, BoE policymakers had signaled that the interest rate is set to remain high for long. <\/p>\n

They said it will be ensured that bank rate is sufficiently restrictive for sufficiently long to return inflation to the 2 percent target sustainably in the medium term. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of England is all set to end its tightening cycle with a final rate hike this week as any further increase will push the UK economy into a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nBoE Preview: Final Rate Hike On Cards - histarmar<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoE Preview: Final Rate Hike On Cards - histarmar\" \/>\n<meta property=\"og:description\" content=\"The Bank of England is all set to end its tightening cycle with a final rate hike this week as any further increase will push the UK economy into a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/\" \/>\n<meta property=\"og:site_name\" content=\"histarmar\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-19T09:39:34+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/\",\"url\":\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/\",\"name\":\"BoE Preview: Final Rate Hike On Cards - histarmar\",\"isPartOf\":{\"@id\":\"https:\/\/histarmar.net\/#website\"},\"datePublished\":\"2023-09-19T09:39:34+00:00\",\"dateModified\":\"2023-09-19T09:39:34+00:00\",\"author\":{\"@id\":\"https:\/\/histarmar.net\/#\/schema\/person\/bd83d16d88852f915ed79f4ac43b288e\"},\"breadcrumb\":{\"@id\":\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/histarmar.net\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy\",\"item\":\"https:\/\/histarmar.net\/category\/economy\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"BoE Preview: Final Rate Hike On Cards\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/histarmar.net\/#website\",\"url\":\"https:\/\/histarmar.net\/\",\"name\":\"histarmar\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/histarmar.net\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/histarmar.net\/#\/schema\/person\/bd83d16d88852f915ed79f4ac43b288e\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/histarmar.net\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/41b05721f7d80e1e707b70447e9375b5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/41b05721f7d80e1e707b70447e9375b5?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BoE Preview: Final Rate Hike On Cards - histarmar","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/","og_locale":"en_US","og_type":"article","og_title":"BoE Preview: Final Rate Hike On Cards - histarmar","og_description":"The Bank of England is all set to end its tightening cycle with a final rate hike this week as any further increase will push the UK economy into a","og_url":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/","og_site_name":"histarmar","article_published_time":"2023-09-19T09:39:34+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/","url":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/","name":"BoE Preview: Final Rate Hike On Cards - histarmar","isPartOf":{"@id":"https:\/\/histarmar.net\/#website"},"datePublished":"2023-09-19T09:39:34+00:00","dateModified":"2023-09-19T09:39:34+00:00","author":{"@id":"https:\/\/histarmar.net\/#\/schema\/person\/bd83d16d88852f915ed79f4ac43b288e"},"breadcrumb":{"@id":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/histarmar.net\/economy\/boe-preview-final-rate-hike-on-cards\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/histarmar.net\/"},{"@type":"ListItem","position":2,"name":"Economy","item":"https:\/\/histarmar.net\/category\/economy\/"},{"@type":"ListItem","position":3,"name":"BoE Preview: Final Rate Hike On Cards"}]},{"@type":"WebSite","@id":"https:\/\/histarmar.net\/#website","url":"https:\/\/histarmar.net\/","name":"histarmar","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/histarmar.net\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/histarmar.net\/#\/schema\/person\/bd83d16d88852f915ed79f4ac43b288e","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/histarmar.net\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/41b05721f7d80e1e707b70447e9375b5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/41b05721f7d80e1e707b70447e9375b5?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/posts\/43460"}],"collection":[{"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/comments?post=43460"}],"version-history":[{"count":1,"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/posts\/43460\/revisions"}],"predecessor-version":[{"id":43461,"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/posts\/43460\/revisions\/43461"}],"wp:attachment":[{"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/media?parent=43460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/categories?post=43460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/histarmar.net\/wp-json\/wp\/v2\/tags?post=43460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}