Markets price in up to four Bank Rate rises by July as the MPC prepares to hold at 3.75%
Money markets are now pricing in as many as four quarter-point rises by July, taking Bank Rate to 4.75%, ahead of Thursday's meeting that is expected to hold at 3.75% for a sixth time. The shift follows July GDP growth of 0.4% and CPI rising to 2.9%. For buyers, that points to fixed rates drifting up this autumn; for sellers, it trims what buyers can stretch to. Market pricing is not a decision, and services inflation eased to 3.4%.
What this means for…
Buyers· 3/3
Sellers· 2/3
Wider market· 3/3
Each axis scored 1 (minor) to 3 (major). Total 8/9.
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