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Essentials of Monetary Policy

Central Banks in Europe. A Second Straight Rate Hike for the United Kingdom

February 3, 2022
Hendrix Vachon
Principal Economist

The BoE chose to strike while the iron is hot, raising interest rates for the second straight meeting. Inflation was likely a determining factor. The bank again upgraded its inflation forecast, expecting it to peak around 7% this spring before easing as supply issues subside.