Bank of England likely to raise rates again, chief economist says
The Bank of England is expected to lift interest rates next month and again in early 2027, its chief economist told the Guardian as the central bank seeks…
The Bank of England is expected to lift interest rates next month and again in early 2027, its chief economist told the Guardian as the central bank seeks to curb rising inflation.
Huw Pill said the recent move from 3.75% to 4% was a “significant step” toward putting monetary policy on a better footing, but added, “We have further to go.”
The prospect of another hike signals a sharp rise in mortgage payments for an estimated 2.3 million homeowners who will need to refinance their loans next year.
Why it matters
Further rate increases would raise mortgage costs for millions of households, deepening the impact of monetary policy on the broader economy.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- Bank of England, Huw Pill, Bank
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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