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BOE Expected to Leave Policy Unchanged Next Week

09/16/2021 | 03:52am EDT

BOE Expected to Leave Policy Unchanged Next Week

0735 GMT - The Bank of England is likely to leave monetary policy unchanged next week despite a stronger labor market and higher inflation, says RBC Capital Markets. The Canadian bank adjusted its BOE call after the August meeting and is now forecasting two interest rate rises in 2022, encompassing a 15 basis-point increase to 0.25% at the May 2022 meeting and a further 25 basis-point increase to 0.5% at the November 2022 meeting. "That change was prompted by the rapid improvement in the labour market," analysts say. While the Monetary Policy Committee were still relatively confident that goods price inflation would prove temporary as mismatches between supply and demand issues ironed themselves out, it was less certain the same was true of the labor market, RBC says. (lorena.ruibal@wsj.com)

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Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

09-16-21 0351ET

Latest news "Economy & Forex"
Latest news "Economy & Forex"