Bank warns interest rate rise increasingly likely if energy prices stay high

Summarised from 3 outlets · 5 reports · Updated 25 Sept, 23:25 · Archive

Bank of England officials warn that interest rate rises are increasingly likely if energy prices remain elevated.

Bank of England deputy governors have suggested that interest rate hikes are becoming 'increasingly likely' if energy prices stay high. The Bank has predicted inflation will reach around 3.7 per cent in the fourth quarter of the year. Governor Andrew Bailey warned it is getting 'harder' to keep rates on hold as energy prices rise.

Bank warns interest rate rise increasingly likely if energy prices stay high — Image: This is Money

Comments (0)

How it is being reported

Andrew Bailey says it will 'get harder' to keep rates on hold as energy prices rise - in a blow to borrowers as mortgage deals soar towards 6%The governor of the Bank of England has warned it is getting harder to keep interest rates on hold as energy prices soar - in a blow to borrowers as mortgage deals climb towards 6pc.This is Money · 25 Sept, 15:37
High energy prices will make it ‘harder’ to avoid interest rate hike – BaileyIt comes only a day after a deputy governor at the Bank said a rate hike is looking ‘increasingly likely’ if energy prices remain elevated.Independent Business · 25 Sept, 12:20
Bank alarm over global inflation 'tinderbox' as bond yields soar and rate rise fears deepenDeputy Bank of England governor Sarah Breeden (pictured) said it looked 'increasingly appropriate' to hike rates as oil prices surged above $108 a barrel.This is Money · 24 Sept, 22:00
Interest rate hikes ‘increasingly likely’ despite debate over inflation riskA Bank of England policymaker has suggested that an interest rate hike looks “increasingly likely” if energy prices remain higher for longer although officials struck a cautious tone on whether UK inflation would spiral over the next year. Speaking at an event in Warsaw, deputy governor Clare Lombardelli teased interest rate hikes as she said [...]City AM · 24 Sept, 12:26
Bank deputy warns rate rise ‘increasingly likely’ if energy prices remain highThe Bank has predicted that inflation will increase to around 3.7 per cent in the fourth quarter of this yearThe Independent · 24 Sept, 12:19

In this story: Bank of England · Clare Lombardelli · Sarah Breeden · Andrew Bailey

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 · Corrections log