Traders Bet on Two Percentage Points More of BOE Rate Hikes




  • In Business
  • 2022-08-17 07:49:59Z
  • By Bloomberg
 

(Bloomberg) -- Traders are betting on two percentage points more of Bank of England rate hikes after UK inflation data beat expectations.

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Money markets are pricing over 200 basis points of tightening by May next year, which would take the key rate from 1.75% to 3.75%.

UK inflation accelerated more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and BOE.

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