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VIEW: RBC Still Favour 25bp Hike Tomorrow, Higher Conviction That It Will Be The Last In Cycle

BOE

In light of today’s CPI data RBC question “is it enough for the BoE to pause at tomorrow’s meeting? Not quite in our view. Though today’s data will leave the decision more finely balanced than we had previously foreseen we retain our call for the Committee to deliver a final 25 bps increase in Bank Rate tomorrow with the continued strength of wage growth being the crucial influence on the decision. Today’s data does increase our confidence, however, that that this will be the last rate hike of the current tightening cycle leaving terminal Bank Rate at 5.50%”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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