Bank of England peak rate - Natwest forecast high of 4.5%

ICYMI, the Bank of England overnight:

• ForexLive European FX news wrap: BOE delivers 25 bps rate hike as expected
• BOE's Bailey: Inflation remains too high
• BOE's Bailey: Past rate hikes will weigh more on the economy in the coming quarters

This take earlier:

• Deutsche Bank on the Bank of England rate hike - the Committee "remains divided"

Natwest said their was not much of a dovish note in the Bank of England statements. This leaves the prospect of further hikes open. However, analysts at the bank expect inflation will ease during 2023:

• "We continue to think that headline inflation will come off rapidly in the months ahead, while lagged headwinds to the consumer from higher rates will dampen demand, meaning 4.5% will likely be the peak in Bank Rate."