Money markets are pricing in a 10 basis point rate hike by the Bank of England (BoE) for September 2022, after the budget statement by British Finance Minister Rish Sunak, according to Reuters.
Sunak has said that underlying debt would increase indefinitely without corrective action and he has pointed out that they cannot ignore the problem of loans.
Last week, money markets expected the Bank of England to lower its policy rate to negative territory. in early 2022.
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