Will they or won’t they? All eyes are on the Bank of England ahead of their next interest rate decision in May, with varying expectations of a rate hike. The Bank of England announced in November their first rate rise since 2007, before the onset of the global financial crisis. Most economists expect interest rates will continue to rise this year, although the timing and scale of any rate rises are still an unknown quantity. A new poll carried out by IHS Markit has shown fewer people expecting a rate rise during the next quarter. The Household Finance Index found 28% of Britons expected the Monetary Policy Committee to increase interest rates during the next three months, falling from 33% when asked in March.
Will interest rates rise in May?
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This 596 word blog post considers the prospect of an interest rate rise in May 2018, looking at a new poll from IHS Markit alongside recent price inflation figures and the other factors that influence changing interest rates.
