The Bank of England is all set to raise its benchmark rate for the thirteenth straight policy session this week in the face of elevated inflation and persistent labor market tightness in the UK, but the bank rate is unlikely to peak at the level markets are currently pricing in.
The nine-member Monetary Policy Committee of the central bank is expected to lift the rate by 25 basis points in a split vote as there will be discussion among hawkish members favoring actions to fight second-round effects and the minority of doves who expect inflation to fall sharply this year.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.