Bank of England: Even if inflation falls, more British people still predict a rate hike rather than a rate cut
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The Bank of England released a survey showing that despite UK inflation expectations falling to 2.8%, more British people predict an increase in interest rates rather than a decrease. About one-third of respondents expect borrowing costs to rise in the next 12 months. Furthermore, recent data indicates that the UK unemployment rate has risen to a two-year high, suggesting that the labor market is gradually loosening. The Governor of the Bank of England and other officials expect to keep interest rates unchanged, with investors reducing their bets on the extent of rate cuts
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