Bank of England expected to raise interest rates again after UK inflation only dips to 10.1%

The odds of the Bank of England raising interest rates again next month have jumped.

The money markets indicate there is a 97% chance that the BoE lifts Bank Rate by a quarter of one percentage point to 4.5% in May – up from an 82% chance yesterday.

The markest also imply there’s a good chance that rates will hit 5% by the autumn.

The Bank will be concerned that UK inflation looks to be stickier than hoped.

Source: The Guardian