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SocGen also push back first hike to February

BOE
  • "The emergence of the Omicron variant has injected a fresh note of uncertainty into the timing of the first rate hike from the Bank of England. We have changed our rate call to reflect this. The first hike is now likely in February 2022 rather than on 16 December."
  • "We fully expect that the labour data to be released on 14 December will add weight to the need for a rate increase before long but the Omicron outbreak will buy the committee a little more time before it has to act."
  • By February "the impact of the end of furlough should be very clear and the Omicron variant should hopefully be under control... If that is the case, the debate might then revert to one over the size of the first increase rather than of its timing."

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