The Bank of England is likely to shift the gear down on interest rate hikes this week as the economy enters a 'prolonged' recession and inflation is seen slowing towards the 2 percent target in two years' time.
Markets have penciled in a 50 bps rate hike, after the central bank delivered a 75 bps increase in November, which was the biggest in 33 years. The Monetary Policy Committee is set to conclude the rate-setting meeting on December 15. The nine-member committee is likely to decide on the rate hike again in a split vote.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.