Economists question expectations despite BoE's rate freeze in July

The Bank's decision to maintain interest rates splits opinion among economists.

Economists expect interest rates in the UK to rise faster than expected despite last week’s decision from the Bank of England’s Monetary Policy Committee (MPC) to keep rates on hold at a historic low. The MPC maintained interest rates at 0.5% for the 29th month running, defying calls from organisations such as Save our Savers to hike rates in an effort to combat soaring inflation, which is well above the 2% target. Henderson’s senior economist Simon Ward argued more dovish commentators are underestimating the MPC’s willingness to respond to economic data. “Some people have got it i...