Article 6E49N UK interest rates to peak at 5.5% in September, economists predict

UK interest rates to peak at 5.5% in September, economists predict

by
Kalyeena Makortoff Banking correspondent
from Economics | The Guardian on (#6E49N)

Experts surveyed by Reuters expect inflation to continue falling in fourth quarter

UK interest rates will peak at 5.5% next month as Bank of England policymakers try to minimise the impact of higher borrowing costs on the UK economy and avoid a prolonged recession, economists predict.

A fresh poll of economists by Reuters suggests the Bank will approve a 15th consecutive increase in interest rates at its next meeting on 21 September as part of efforts to combat price inflation, which is still more than three times higher than its 2% target.

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