Bank of England Governor, Andrew Bailey, remarked that further monetary tightening would be required to fight elevated inflation, but signalled interest rates will probably remain below the highs seen before the global financial crisis of 2008. Financial markets are pricing in a 52% chance of a 25-bps interest rate hike in May-23, taking rates to a peak of 4.50%.
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Mar 28, 2023
Macro and Markets Research
Bank of England Governor, Andrew Bailey, remarked that further monetary tightening would be required to fight elevated inflation, but signalled interest rates will probably remain below the highs seen before the global financial crisis of 2008. Financial markets are pricing in a 52% chance of a 25-bps interest rate hike in May-23, taking rates to a peak of 4.50%.