The Bank of England is expected to propose a 12th consecutive hike in interest on Thursday to keep the fight against inflation lively. The nation’s Core inflation remains unchanged, highlighting the possibility of entrenchment. As such, analysts expect the bank to announce a 7-2 split vote pushing the hikes trend upwards to hit 4.25% to 4.5%. 

More pain in Britain Markets?

The Bank of England is expected to hike the interest rates again on Thursday, marking the 12th time the hike has happened. This hike will most likely happen as inflation continues to roar though there are signs to slow down soon.

The U.K. economy has been performing well this year though its GDP flatlined in February owing to strikes due to the rising cost of living. However, now the country’s job market looks resilient and promising.

As such, the market almost unanimously expects the Monetary Policy Committee to opt for another 25 basis point hike on Thursday, taking the total interest rates to a 4.5% high, close to U.S.’s 5%, which was hit last week. Market analysts also expect the U.S. to pause hiking rates starting June.

Similarly, last week, the European Central Bank slowed down its hiking cycle and went for a 25 basis point increment. However, the decision still lifted the rates to levels not seen since November 2008.

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