The 0.25% rise expected today will take the cash rate to 0.5%
38 of 42 analysts polled by Bloomberg also tip the hike
Also, the BoE has signalled it will start the process of balance sheet reduction (‘quantitative tightening’) once the cash rate reaches the 0.5% level
- the Bank will finish reinvestments on its QE bond holdings
Further ahead the market is pricing circa 5 * 25bps rate hikes by the end of 2022.
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The Bank of England statement is due at 12 GMT and Governor's Bailey will follow up, speaking at 1230 GMT
