The Bank of England is expected to raise interest rates for the 12th consecutive meeting on Thursday due to high inflation, but this may be coming to a close. Despite strikes and the cost-of-living squeeze, the UK economy is holding up well, with a resilient labor market. However, annual headline inflation remains above 10% due to high food and energy bills, while core inflation remained unchanged. The Bank expects it to decrease rapidly from mid-2023 to about 4% by year-end.
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Article Name
Bank of England Eyes 12th Straight Rate Hike Amid Uncertainty
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The Bank of England is expected to raise interest rates for the 12th consecutive meeting on Thursday due to high inflation, but this may be coming to a close.
Author
Susan Jane
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CNBC
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