Bank of England Gov Bailey says the next interest rate hike could be higher than expected

The BoE is due to announce its next decision on interest rates on November 3. Governor Bailey was speaking at an International Monetary Fund event in Washington.

• “As things stand today, my best guess is that inflationary pressures will require a stronger response than we perhaps thought in August”

The previous hike was on September 22:

• BOE raises bank rate by 50 bps to 2.25%, as expected

Bailey's comments on a 'stronger response' brings a 75bp rate hike into play for the November meeting, perhaps even 100bp.

GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term should get a boost in Monday morning trade. GBP has been very much the volatile beast in recent weeks in response to the fiscal announcements from the the new administration. Chancellor Kwarteng has since been fired. The noob Chancellor now is Jeremy Hunt.

Bank of England Bank of England The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy Read this Term Governor Bailey: