BOE's Bailey: We are not signalling what will come next on rates

<ul><li>We are not signalling what will come next on rates</li><li>We are not seeking to precipitate a recession</li><li>It was absolutely imperative that the BOE raised rates today</li><li>The pattern of persistence and sticky <a href="https://www.forexlive.com/terms/i/inflation/">inflation</a> is seen in other countries too</li><li>We cannot continue to have the current level of wage increases</li><li>We cannot have companies building profit margins that cause prices to rise at their current rates</li></ul><p>The market is pricing a 33% chance of another 50 bps hike at the next meeting on August 3 with the remainder at 25 bps. The market sees a terminal rate of 6.00% with a 45% chance of going to 6.25%. That could make for a rough winter for UK mortgage-holders.</p>

This article was written by Adam Button at www.forexlive.com.