Up, Up and Away
The Bank of England last managed to raise interest rates once in both 2017 and 2018, before cutting them down to just a tenth of 1% at the height of the pandemic crisis. Now, however, financial markets appear to be taking the commentary from members of the Monetary Policy Committee (the MPC) over inflation worries at face value, with the UK Base Rate now forecast to be nearly 1% in a year’s time.