• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Bank of England’s Saunders says get ready for early rate rise

October 9, 2021 by David Barret Leave a Comment

October 9, 2021

LONDON (Reuters) – Bank of England policymaker Michael Saunders told households to get ready for “significantly earlier” interest rate rises as inflation pressure mounts in the British economy, the Telegraph newspaper said on Saturday.

Saunders said investors were right to bet on faster increases in borrowing costs with consumer price inflation heading above 4%, adding to signs the BoE might become the first major central bank to raise rates since the pandemic struck.

“I’m not in favour of using code words or stating our intentions in advance of the meeting too precisely. The decisions get taken at the proper time,” Saunders said.

“But markets have priced in over the last few months an earlier rise in Bank Rate than previously and I think that’s appropriate.”

Last month the nine-member Monetary Policy Committee voted unanimously to keep rates at 0.1%.

But Saunders and Deputy Governor Dave Ramsden voted to halt the BoE’s government bond purchases ahead of schedule.

Saunders said markets had fully priced in a February rate hike by the British central bank and had half priced in a December increase in borrowing costs.

“I’m not trying to give a commentary on exactly which one, but I think it is appropriate that the markets have moved to pricing a significantly earlier path of tightening than they did previously,” he said.

The comments by Saunders came shortly after BoE Governor Andrew Bailey said inflation running above the central bank’s 2.0% target was concerning and had to be managed to prevent it from becoming permanently embedded.

“We are going to have a very delicate and challenging job on our hands so we have got to in a sense prevent the thing becoming permanently embedded because that would obviously be very damaging,” Bailey told the Yorkshire Post newspaper.

(Reporting by Maria Ponnezhath in Bengaluru; and James Davey in London; editing by William Schomberg)

Source Link Bank of England’s Saunders says get ready for early rate rise

David Barret
David Barret

Related posts:

  1. U.S. judge in ‘Fortnite’ case strikes down Apple’s in-app payment restrictions
  2. Fed’s Mester supports taper start in Nov, sees rate hike in 2022
  3. Germany’s SPD wants to open coalition talks this week
  4. Motor racing-Gasly fastest in wet final practice in Turkey

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Knitters, Artists, And Bakers Unite! Creative Hobbies Can Help Your Brain Stay Young
  • The Biggest Millisecond Pulsar Glitch Recorded Represents An Astronomical Mystery
  • There Are Five Different Types Of Bad Sleeper. Which One Are You?
  • In A World First, Autonomous Underwater Robot Sets Off On Mission To Circumnavigate The Globe
  • First-Ever Living Recipient Of A Pig-To-Human Liver Transplant Survived For 171 Days
  • 190-Million-Year-Old “Sword Dragon Of Dorset” Likely The World’s Most Complete Pliensbachian Reptile
  • Acting CDC Director Calls For Splitting Up MMR Shots – But There’s A Reason We Don’t Do That
  • New Species Of Tiny Poison Dart Frog With Stripy Back And Spotty Legs Loves Bamboo
  • Not A Canine, Nor A Feline: Four Incredibly Cute Fossa Pups Have Been Born At A Zoo
  • The Most “Pristine Star” In The Universe May Have Been Identified – Researchers Link It To Elusive “Population III” Stars
  • 78-Million-Year-Old Crater Reveals Asteroid Impacts Can Create Long-Lasting Habitats For Microbial Life
  • 24 Years Of NASA Satellite Data Suggest The World Is Getting Darker, And It’s Happening Faster In The North
  • Two Black Holes Circling Each Other Captured In Image For The Very First Time
  • Rapa Nui’s Famous Moai Statues Really “Walked” – Physics Confirms It
  • Could Dogs Be Taught To Talk With Language? This Lab Wants To Find Out
  • SETI Paper Responds To Claims Interstellar Object 3I/ATLAS Might Be An Alien Spacecraft
  • Rare Chance To See “Pink Meanie” Jellyfish With 20-Meter Tentacles Blooming Off Texas
  • Stranded Dolphins’ Brains Show Signs Of Alzheimer’s-Like Disease
  • Natural Sweetener Stevia Could Help Bolster Common Hair Loss Treatment
  • “Dig Deep, And Persevere”: Number 16, The World’s Longest-Lived Spider, Died Aged 43
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version