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BoE More Likely to Hike Than Cut Next

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For most economists, the Bank of England’s move to a neutral stance presages an eventual increase in interest rates.

Almost two-thirds of analysts surveyed by Bloomberg see the Bank of England raising its benchmark from a record low as policy makers confront inflation that could exceed their 2 percent target as soon as the second quarter of next year. Consumer-price growth was probably 1.1 percent in November, the fastest in two years.

The BOE’s neutral stance is a consequence of the opposing tensions created by June’s Brexit vote. Governor Mark Carney and his colleagues are set to provide fresh insight into how they intend to balance supporting growth and controlling inflation — pushed up by the pound’s decline — on Thursday, when they publish their latest policy decision.

Bloomberg

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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