Bank deputy signals interest rate rise more likely if energy prices stay high

Summarised from 3 outlets · Updated 24 Sept, 12:38 · Archive

A Bank of England deputy governor has signalled that interest rate rises look 'increasingly likely' if energy prices remain elevated.

Clare Lombardelli suggested higher rates are more probable as energy costs persist. The Bank predicts inflation will reach around 3.7 per cent in the fourth quarter of this year, though policymakers have struck a cautious tone on whether inflation will escalate significantly over the coming year.

How it is being reported

• Bank alarm over global inflation 'tinderbox' as bond yields soar and rate rise fears deepenThis is Money · 24 Sept, 22:00
• Interest rate hikes ‘increasingly likely’ despite debate over inflation riskCity AM · 24 Sept, 12:26
• Bank deputy warns rate rise ‘increasingly likely’ if energy prices remain highThe Independent · 24 Sept, 12:19

In this story: Bank of England · Clare Lombardelli · UK

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem