Reuters Poll: Bank of England to lift bank rate by 50 bps to 4.00% on February 2
|29 of 42 economists that took part in a recently conducted Reuters poll said that they expect the Bank of England to raise the policy rate by 50 basis points (bps) to 4% on February 2. 13 economists said they were looking for a smaller, 25 bps, hike.
"Median forecasts in the poll showed the Bank would then add 25 basis points in March, giving a peak rate of 4.25%," Reuters wrote.
Market reaction
This headline doesn't seem to be providing a boost to the Pound Sterling. As of writing, GBP/USD was down 0.7% on the day, trading at around 1.2290.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.