Inflation is running at close to four times the Bank of England's 2% target, but today's data gives us something to celebrate
Before the latest figures were released financial markets were expecting the Bank's base rate to peak early next year at 6.25%, the highest level since 1999.That being said, the Bank is still likely to raise rates next month because wage pressures in the economy are strong.
Financial markets are now pricing a quarter of a percentage point increase to 5.25% next month instead of half a percentage point increase. That should offer some relief to the 1.4 million homeowners who are coming off their fixed-rate mortgage deals this year.
Belgique Dernières Nouvelles, Belgique Actualités
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