VOT Research Desk
The Macro Strategist for Global Fixed Income at Goldman Sachs Asset Management, Gurpreet Gill, gives his opinion on what the Bank of England (BoE) is likely to declare on its monetary policy.
One of the main factors influencing services inflation, wage growth, is currently at 6%, which is double the level thought to be consistent with the Bank’s 2% inflation target.
However, because of widespread inflationary pressures, the Bank is unlikely to stop its cycle of rate increases too soon.
In the first half of 2023, the bank will continue raising rates until inflation slows down.
