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Monday, June 21, 2021

JP Morgan revises BOE rate hike forecast to Q4 2022

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The firm previously forecast the BOE to only raise rates in Q1 2023

There is still some time before all this talk becomes more dominant in the market, as we are only stuck at the tapering discussion for now, but just keep an eye on calls like these as they do reflect sentiment among market participants.

JP Morgan argues that the UK economy is “proceeding very well” and that:

“Expectations of longer-term scarring are diminishing, and a more complete recovery coupled with a limited underlying inflation undershoot to start with argue for an earlier rate hike.”

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