UK inflation breaches the BoE’s upper target

Higher food and energy prices have put further pressure on households ahead of the festive period. UK annual consumer price index (CPI) inflation rose to 3.1% in November – its highest rate since March 2012 and, more significantly, breaching the Bank of England’s upper target of 3%. The latest figures were higher than consensus expectations … Continue reading “UK inflation breaches the BoE’s upper target”

UK interest rates rise for the first time in a decade

The Bank of England (BoE) raised UK interest rates for the first time since July 2007. The base rate has increased from 0.25% to 0.5%, but we do not believe this necessarily marks the start of an imminent tightening cycle… Although today’s is first interest rate hike in over a decade, the forward guidance provided … Continue reading “UK interest rates rise for the first time in a decade”