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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by Renju Jaya
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