Goldman Sachs expects Bank of England to raise rates again in February

The Bank of England is expected to raise interest rates again in February, according to Goldman Sachs. This prediction comes after the bank revised its outlook, now forecasting a possible quarter-point increase in the November monetary policy meeting. A rate hike would be the first since 2023, driven by rising energy costs and strong economic growth. This move could have significant implications for the UK economy, influencing borrowing costs and consumer spending.

Why it matters

The Bank of England may increase interest rates to combat inflation. This could lead to higher borrowing costs and reduced consumer spending.

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