BofA Expects Another UK Rate Hike After ‘Hawkish’ BOE Forecasts
Office workers near the Bank of England, May 11.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Economists at Bank of America are now predicting another rate hike from the UK’s central bank in June, after policy makers warned on Thursday of persistent food inflation.
Robert Wood, chief UK economist at BofA, said the change of call came after the BOE published more “hawkish-than-expected forecasts” in its Monetary Policy Report on Thursday. BofA had previously expected no more rate hikes after May.