LONDON - The Bank of England is on Thursday expected to raise interest rates for a fourth time in a row to contain runaway inflation that is causing a cost-of-living crisis.
"A 25 basis-point rate hike from the Bank of England's Monetary Policy Committee on Thursday looks like a foregone conclusion, and so investors' focus will be on any hints about further increases in borrowing costs in the upcoming meetings," noted City Index analyst Fawad Razaqzada.BoE Governor Andrew Bailey insists that the central bank is seeking to tackle high inflation while avoiding Britain falling into recession.
"If there's an advanced economy that's more at risk of falling into a recession, it's the UK," noted Deutsche Bank economist Sanjay Raja.
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