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- BOE Survey: UK public inflation expectations, rate hike bets accelerate
BOE Survey: UK public inflation expectations, rate hike bets accelerate
Following are the key takeaways of the Bank of England’s latest quarterly survey of public attitudes to inflation, conducted by Kantar on the central bank’s behalf.
UK public inflation expectations for the year ahead 3.2% in November vs 2.7% in August.
Longer-term UK public inflation expectations 3.1% in November vs 3.0% in August.
Sixty percent of respondents expected interest rates to rise over the next 12 months, up from 43% in August.
Meanwhile, next week's rate hike by the BOE is now off the table, according to the SONIA futures. The December 2022 pricing is now below the BOE projection from their last meeting at 0.87.
The new Omicron covid variant-led restrictions in the UK combined with the dovish comments from BOE hawk Michael Saunders have priced out a December rate hike.
At the press time, GBP/USD is struggling around 1.3200, with eyes on the yearly lows ahead of the US inflation data.
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