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UK Economists Say Bank of England May Warn Against Rate Cut Bets
UK economists say the Bank of England may use this week’s interest rate decision to warn that borrowing costs must remain elevated well into 2024, a move to tamp down growing bets on a reduction by June. Governor Andrew Bailey and his colleagues on the nine-member Monetary Policy Committee have highlighted lingering concerns about inflation to support their guidance that rates will need to remain at the highest level in 15 years for the foreseeable future. While none of the economists surveyed by Bloomberg last week expect a change in the key lending rate on Thursday, the BOE is concerned that money markets are ... (full story)