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At its November policy meeting, the BoE’s Monetary Policy Committee is widely expected to raise the Bank Rate by 25bps to 0.5%, effectively reversing August 2016’s cut in the aftermath of the UK’s vote to leave the European Union.
BoE policymakers have been recently signalling action in the midst of above-target inflation and a tightening labour market, with the UK unemployment rate now below what the bank estimates to be the equilibrium rate.
However, any move is unlikely to herald the beginning of a hiking cycle given that domestically generated inflationary pressures remain absent amid subdued momentum in wage growth.
The bank also releases its November inflation report at this meeting, with major changes to the economic outlook unlikely.
BoE policymakers have been recently signalling action in the midst of above-target inflation and a tightening labour market, with the UK unemployment rate now below what the bank estimates to be the equilibrium rate.
However, any move is unlikely to herald the beginning of a hiking cycle given that domestically generated inflationary pressures remain absent amid subdued momentum in wage growth.
The bank also releases its November inflation report at this meeting, with major changes to the economic outlook unlikely.