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Podcast: Beyond Currency
Episode: 22 June 2023 - Will BoE rate decision deliver a surprise?
Description: If there were any lingering doubts over whether the Bank of England would raise interest rates when the vote takes place at its meeting which concludes later this morning, they were dispelled by the publication of the May inflation report.
Headline inflation was unchanged last month at 8.7% as the continued fall in energy prices was offset by the continued excessive cost of foodstuffs. While a twenty-five-basis point hike in short-term interest rates was virtually certain before the data was released, it is now “baked in”.
The Office for National Statistics, when considering the data and the lack of any change, part...