Bank of England ‘all but confirmed’ to raise rates to 13-year high – ‘Uncharted waters!'

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“Recent data has given a measurably bleak outlook on both the growth and inflationary fronts, and this is only set to be amplified when April’s figures come out in a few weeks.

“Recent remarks from Andrew Bailey that the Bank is walking a ‘narrow path’ between growth and inflation are therefore no surprise.

“Traders will be eagerly listening out for any signal of the Bank’s mid-term path as the cost-of-living crisis continues to sting the British economy.”

After the Bank of England’s decision to raise interest rates in March, Richard Eagling, a senior personal finance expert at NerdWallet, emphasised how these decisions impact households.



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