The Bank of England could slow the pace of interest rate rises as it announces its latest decision later today.
After UK inflation fell by more than expected in June, traders think the BoE’s Monetary Policy Committee is more likely to raise the interest rate by 0.25 percentage points than deliver another 0.5 percentage point increase.
Of 62 economists polled by Reuters, 42 expect a 0.25 percentage point rate rise to 5.25%, with the remainder anticipating a 0.5 percentage point increase.
