Bank of America predicts BOE rate hikes

Bank of America expects the Bank of England to increase interest rates twice over the next six months, due to rising inflation risks stemming from higher energy prices, especially oil and natural gas. This forecast comes after the bank’s meeting last week, which indicated a more hawkish stance on inflation, with projections that inflation could exceed 4% by early 2027, potentially prompting tightening of monetary policy. In the markets, the probability of a rate hike in November is estimated at 67%, and Bank of America predicts that there will be only two such increases before the bank begins to cut rates in 2028 to 3.5%.

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