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Podcast: Beyond Currency
Episode: 19 August 2022 - Market foresees far higher rates
Description: Following this week’s publication of inflation data for July, there is a view growing among analysts that the Bank of England may be forced to raise interest rates to a level above 3% to bring rising prices back under control.
It is expected that at its next meeting, the Central bank will add another fifty basis points to bring the base rate to 2.25%, with another two further fifty basis point hikes to follow.
Such a move will certainly contribute to a recession which Governor Andrew Bailey has predicted will arrive in the fourth quarter and could last through the whole of...