BoE will need to raise rates to 4.75% to bring down inflation - NIESR
Reuters
Published Nov 11, 2022 12:06
LONDON (Reuters) - The Bank of England will probably need to raise interest rates to 4.75% in order to bring inflation back to its 2% target, something only likely to be achieved in three years' time, the National Institute of Economic and Social Research said.
Last week, the BoE raised Bank Rate to 3% as it sought to counter the risks from an inflation rate currently running above 10%, but it also said investors were pricing in too many further increases.
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Written By: Reuters
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