BOE Will Raise Interest Rates Three Times in 2022, Goldman Says

The Bank of England will raise borrowing costs three times next year, bringing the benchmark interest rate to 1%, according to economists at Goldman Sachs Group Inc.

The first increase will come in February, the economists said, revising their outlook after the central bank unexpectedly hiked rates on Thursday by 15 basis points to 0.25% to curb a surge in inflation.