{"id":46849,"date":"2023-06-21T05:45:00","date_gmt":"2023-06-21T04:45:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=46849"},"modified":"2023-06-21T20:47:48","modified_gmt":"2023-06-21T19:47:48","slug":"market-insight-bank-of-england","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-insight-bank-of-england\/","title":{"rendered":"Market Insight &#8211; Bank of England"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"46849\" class=\"elementor elementor-46849\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40e6eaf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"40e6eaf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0ccedc7\" data-id=\"0ccedc7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-edf6bd4 elementor-widget elementor-widget-text-editor\" data-id=\"edf6bd4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The Bank of England are set to meet this week as UK borrowing costs are now at fresh highs not seen since 2008, as the central bank continues to battle double-digit inflation.<\/p><p>Currently financial markets are pricing almost six more rate hikes from here, and while we doubt the Bank of England would endorse that. It is noteworthy that the central bank may want to push back heavily either given the recent tendency for inflation data to come in above expectations.<\/p><p>Most economists expect a 25 basis-point rate hike this week and only vague guidance on what&#8217;s likely to come next. The UK CPI inflation report released this week probably won\u2019t influence this week\u2019s decision, but probably the July decision.<\/p><p>In the previous meeting The Bank of England raised the bank rate by 25 basis points to 4.5% in May 2023, marking the twelfth consecutive rate increase, in line with market expectations.<\/p><p>The central bank say inflation falling to 5.1% in Q4 2023, compared to 3.9% in the February forecast and to meet the 2% target by late 2024. The economy is seen stalling in Q1 and Q2, but to rise 0.25% in 2023, compared to a 0.5% contraction seen in February.<\/p><p>Government budget measures outlined in March are expected to add 0.5% to GDP, above the 0.3% seen in February. Policymakers added that will continue to monitor closely indications of persistent inflationary pressures.<\/p><p>It should be that the tightness of labour market conditions and the behaviour of wage growth and services price inflation are always closely observed by policymakers.<\/p><p>The Bank of England also clearly stated that if there were to be evidence of more persistent inflationary pressures, then further tightening in monetary policy would be required.<\/p><p>25 basis-point rate hike, most likely backed by seven committee members, with members Silvana Tenreyro and Swati Dhingra voting for no change. A further 25 basis point hike in July and August is likely.<\/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":"<p>The Bank of England are set to meet this week as UK borrowing costs are now at fresh highs not seen since 2008, as the central bank continues to battle double-digit inflation. Currently financial markets are pricing almost six more rate hikes from here, and while we doubt the Bank of England would endorse that. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":46851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[56],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Insight - Bank of England - 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\/\" \/>\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 Market Insight - Bank of England\" \/>\n<meta property=\"og:description\" content=\"The Bank of England are set to meet this week as UK borrowing costs are now at fresh highs not seen since 2008, as the central bank continues to battle double-digit inflation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-insight-bank-of-england\/\" \/>\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=\"2023-06-21T04:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T19:47:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/06\/gettyimages-155427926.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"468\" \/>\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 - Bank of England Market Insight - Bank of England\" \/>\n<meta name=\"twitter:description\" content=\"The Bank of England are set to meet this week as UK borrowing costs are now at fresh highs not seen since 2008, as the central bank continues to battle double-digit inflation.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated 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\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-insight-bank-of-england\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-insight-bank-of-england\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Insight &#8211; 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