Former Bank deputy governor expects rates to rise to 2.5%

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Former Bank deputy governor expects rates to rise to 2.5%

Postprzez geemongG » 23 wrz 2022, o 06:38

Former Bank deputy governor expects rates to rise to 2.5%


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Sir John Gieve, who helped set interest rates between 2006 and 2009, predicts the Bank of England will raise interest rates by three quarters of a percentage point.

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That’s at the top end of expectations and would be the biggest rise since 1989.

But Gieve, who was a member of the Bank’s rate-setting Monetary Policy Committee just before and during the worst months of the global financial crisis, tells the BBC he expects rates to rise further still.

“I’m expecting interest rates to continue to rise in future meetings and I think the markets are generally expecting interest rates to rise to over 3% by the end of this year,” he says.
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