BoE Preview: Forecasts from 10 major banks, 25 bps or 50 bps? That is the question BOE InterestRate GBPUSD EURGBP Banks
The BoE is expected to hike rates by 25 basis points to 5.25%. Markets flirt with the option of a larger hike to 5.50%. Updated macro forecasts will be released. The central bank's Decision Maker Panel survey will be out as well.We believe the MPC will hike by 25 bps at the August meeting to address the signs of more persistent inflationary pressures that have developed since the previous meeting. Namely, the continued overshoot in pay growth.
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