Economist at UOB Group Lee Sue Ann suggested the BoE is seen tightening its monetary policy further in the next months.

Key Quotes

“The forward guidance language for higher interest rates was much stronger, endorsed by all the BOE’s voters. We are thus now penciling in more rate hikes in the coming months.”

“We look for an additional 100bps hike for the rest of this year, after which we expect the BOE to press pause on its hiking cycle. This should see the Bank Rate at 2.25% by year-end.”