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SEB: Add an extra March hike

  • “We now expect another rate hike by 25bps to 0.75% already in March while we keep the forecast of rate hikes both in May and September.”
  • SEB also continues to see hikes in Feb-23 and Sep-23, so now expects the end-2023 rate to be 1.75%, up from 1.50% previously.
  • “Our full year inflation projections exceed the BoE not only in 2022, but also in 2023.”
  • Rate hikes preferable to QT as “Central banks, including the BoE, have far more experience with rate hikes… there is also a lot of uncertainty about how shrinking balance sheets affect the real economy. From a communication standpoint, rate hikes are also preferable”

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