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Is a BoE rate hike off the cards?

Summary:
Vibes at Threadneedle Street right now: And, indeed, around the world. So is a Bank of England rate hike, which was expected to come in mid-December, now off the cards? Not necessarily. The Bank’s new chief economist Huw Pill has suggested that the Omicron variant would not deter the Monetary Policy Committee from hiking rates. From Chris Giles’ take on Pill’s remarks: The Bank of England chief economist on Friday said the conditions now existed for him to vote for higher interest rates . . . . . . Pill said in a speech to the CBI employers’ organisation that the BoE needed “the flexibility to deal with unforeseen events”, noting the new coronavirus variant B.1.1.529 as a potential spanner in the works, but indicated he was minded to vote for a rate rise soon.Those

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FT Alphaville is a free daily news and commentary service giving finance professionals the information they need, when they need it. In a world where market professionals are inundated with information there is a pressing need to edit and filter, and hopefully sow a few ideas along the way. That’s where the FT Alphaville team comes in.

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