{"id":45351,"date":"2023-05-11T05:29:00","date_gmt":"2023-05-11T04:29:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=45351"},"modified":"2023-05-11T14:49:04","modified_gmt":"2023-05-11T13:49:04","slug":"market-insight-bank-of-england-preview-4","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-insight-bank-of-england-preview-4\/","title":{"rendered":"Market Insight – Bank of England Preview"},"content":{"rendered":"\t\t
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The Bank of England is widely expected to copy the Fed in terms of decision-making to raise interest rates by another 25-basis point when it concludes its May policy meeting today.<\/p>

This could be the UK central banks 12th\u00a0consecutive hike and will see interest rates rise from 4.25% to a new 14-year high of 4.5%. As it trades at 1.2600 the GBP<\/a> has largely priced in another 25-basis point hike.<\/p>

Any subsequent movement in the Pound is likely to be driven by any hints as to the BoE\u2019s future policy plans, whether this be hawkish or dovish central bank commentary.<\/p>

UK interest rates have surged since December 2021 as the BoE seeks to bring UK inflation back under control, additionally, this has happened during a period of soft economic data.<\/p>

The recent consumer price index from the United Kingdom reported that the inflation was at 10.1%. The rate remained above the 10% mark for a seventh consecutive period and the Bank of England’s 2% target for almost two years, suggesting policymakers might continue to raise borrowing costs.\u00a0<\/p>

There has been speculation as to when the Bank of England will bring its current tightening cycle to an end, only a big drop in inflation will make that conversation more real.<\/p>

The core inflation rate, which excludes volatile items such as energy and food, was unchanged at 6.2% in March, not far from September’s record of 6.5%. The cost of living in the UK is very high currently.<\/p>

Therefore, the recent string of interest rate hikes is putting pressure on an already weak UK economy, and the BoE will be varied of tipping the country into a recession.<\/p>

With many analysts predicting this month\u2019s increase will be its last for the time being. I am skeptical about this as it is very clear with high inflation more action is needed.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Bank of England is widely expected to copy the Fed in terms of decision-making to raise interest rates by another 25-basis point when it concludes its May policy meeting today. This could be the UK central banks 12th consecutive hike and will see interest rates rise from 4.25% to a new 14-year high of 4.5%. […]<\/p>\n","protected":false},"author":4,"featured_media":3292,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[56,200,75,653],"yoast_head":"\nMarket Insight - Bank of England Preview - Youtrading UK<\/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:\/\/youtrading.com\/en\/market-insight-bank-of-england-preview-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Insight - Bank of England Preview Market Insight - Bank of England Preview\" \/>\n<meta property=\"og:description\" content=\"The Bank of England is widely expected to copy the Fed in terms of decision-making to raise interest rates by another 25-basis point when it concludes its May policy meeting today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-insight-bank-of-england-preview-4\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T04:29:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-11T13:49:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/02\/GettyImages-104290142.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"508\" \/>\n\t<meta property=\"og:image:height\" content=\"316\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Insight - 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