Economists anticipate that the Bank of England's Monetary Policy Committee will maintain interest rates at 4.25% due to rising food inflation and potential oil price increases influenced by geopolitical tensions, particularly the Iran-Israel conflict. Recent data indicates a surge in food prices by 4.4% year-on-year. The Consumer Prices Index (CPI) also reflects higher than expected inflation. Analysts predict persistent inflationary pressures from wage growth and government spending, leading to expectations for a future rate cut later this year.
"...The risk to energy prices has clearly intensified and moved up the agenda given developments in the Middle East..."
Collection
[
|
...
]