Economists forecast BoE to hold rates at 5.25% through to spring 2024

Reuters poll of economists

The Bank of England will not hike interest rates any higher than its current level of 5.25%, according to economists surveyed by Reuters, who noted there was still a high chance of another increase.

Sixty-one out of 73 economists in the poll, conducted between 18 to 23 October, said they believed the Bank's Monetary Policy Committee (MPC) would not raise rates next week, in line with market expectations, or any further. Only 12 economists forecast a quarter point rise to 5.50% at the November MPC meeting. UK inflation remains steady at 6.7% in September Yet expectations of another rate rise from the Bank have not disappeared entirely. Sixteen out of 28 economists said the likelihood of a further increase in rates was high. The Bank is using interest rate rises to push infla...