BoE Now Expected To Raise Rates In Q1, But Dec A Close Call (RTRS Poll)

Reuters note that "the Bank of England will wait until early next year before raising borrowing costs, later than previously expected, as it awaits further information on the economic impact of the new Omicron coronavirus variant, a Reuters poll found. In a November poll a slim majority of economists expected a rise from 0.10% to 0.25% on Dec. 16. But since then policymaker Michael Saunders, who voted for an interest rate hike last month, said he wanted more details about the new variant before deciding how to vote this month."

• "In the Dec. 6-8 poll 25 economists said Bank Rate would be left at 0.10% next week, while 21 predicted a rise to 0.25%. In the November poll the split was 26 in favour of a hike versus 21 expecting no change. Considering common contributors in this and the previous polls, a slim majority - 15 of 27 - still expected a hike this month."