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Podcast: Beyond Currency
Episode: 27 March 2023 - One or two more hikes predicted
Description: Analysts at the Office for Budget Responsibility have predicted that the Bank of England will most likely hike short-term interest rates once or twice more before calling a halt to their programme of tightening monetary policy, which has lasted for fifteen months and seen rates climb to their highest level for fourteen years.
Rates are therefore unlikely to reach the 5% level which was predicted by market commentators three months ago. With the base rate of interest currently at 4.25%, it is now likely that the Bank will stop at either 4.25% or 4.75%.
It is now considered unlikely that, unless the current turmoil...