I come from the future.
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Bank of England set to resist temptation of a 50 basis-point rate hike
That the Bank of England will hike rates again this week, there seems no question. And more importantly, markets expect plenty more over coming months. The combination of Friday’s US inflation surprise and a hawkish European Central Bank mean investors now expect 75 basis points worth of rate hikes to be delivered across the next two meetings, and see Bank rate hitting almost 3.5% by this time next year. This, despite the Bank signalling at its last meeting in May that market expectations were overdone. Official forecasts, which were based on the market-implied path of interest rates at the time, showed inflation ... (full story)