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Morgan Stanley: Bank of England expected to raise interest rates by 50 basis points in December

by admin

The Bank of England raised interest rates by 75 basis points in November, in line with market consensus and our expectations. The central bank‘s forecast once again showed a pessimistic view of the economy, although the UK government did not announce further fiscal austerity measures.

However, the central bank’s guidance dampened market expectations for a rate hike and came closer to our view. We expect a 50 bps rate hike in December with a terminal rate of 4%.

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