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- UK's NIESR: BoE to raise rates to 0.5% by Q2 2022
UK's NIESR: BoE to raise rates to 0.5% by Q2 2022
The UK's National Institute of Economic and Social Research (NIESR) noted on Tuesday that they expect the Bank of England (BoE) to raise the policy rate to 0.5% by the second quarter of 2022, as reported by Reuters.
Additional takeaways
"BoE will pause once inflation is past its peak."
"UK GDP to grow 6.9% in 2021."
"UK GDP to grow 4.7% in 2022."
"UK CPI to peak at around 5% in Q2 2022."
Market reaction
This report doesn't seem to be having a significant impact on the British pound's performance against its rivals. As of writing, the GBP/USD pair was up 0.15% on the day at 1.3583.
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