In December 2021 the BoE was one of the first major central banks to draw a line under its ultra-loose pandemic-era monetary policy.
It has now raised borrowing costs by 440 basis points across 12 consecutive meetings in modest-sized rate rises.
All 64 economists polled June 12-14 said the BoE would add another 25 basis points to Bank Rate on June 22, taking it to 4.75%.
A majority of economists surveyed, 52 of 64, said Bank Rate will have peaked by end-August with the median forecast putting it at 5.00%.
Although starting later, both the Fed and the European Central Bank have largely been raising rates in greater magnitudes than the BoE.
Persons:
BoE, Ellie Henderson, BoE Governor Andrew Bailey, Jonathan Haskel, Catherine Mann, Megan Greene, Silvana Tenreyro, Stefan Koopman, Investec's Henderson, Jonathan Cable, Aditi Verma, Anitta Sunil, Ross Finley, Catherine Evans
Organizations:
Bank of England, Monetary, Committee, Rabobank, U.S . Federal, Fed, European Central Bank, Reuters, Thomson
Locations:
Investec