Biggest News aggregator with 200 million news articles | vimarsana.com
there are to make things the bank had to do today, the first immediate decision, we focused on that half—point percentage rise —— two things. that did seem to convince many in the markets at the bank was getting on the front foot again in terms of the fight against inflation, but it was also trying to kind of set out parameters in terms of where it might go in the next 12 months, 18 months. in the past it has told the markets, you know, you got above yourself, we're not going to go to 6%. today it didn't do any of that. so the markets are assuming as you say, there may be another two or three rises up to just below 6% maybe by the beginning of next year, but what the bank of england stressed is that it is all depended on the data. we are to know where they thought they would be three months ago and that's because when the facts change, they say they change their mind. they do hope inflation will still tumble over the next year. if it does, may be rates do not need to go up so high but at the minute the assumption is, they will go up to 5.7 6% next year.