The BoE is seen keeping its tightening stance and could raise the policy rate by 25 bps at both the March and May meetings, comments UOB Group’s Economist Lee Sue Ann.

Key Quotes

“We are penciling in 25bps hikes at the next 2 meetings on 23 Mar and 11 May, seeing the Bank Rate peak at 4.5%.”

“We recognize, though, the risks to our forecasts given the BOE’s challenge of fighting inflation amid a difficult economic outlook, as reflected by the range of views on the MPC at their last meeting on 2 Feb.”