At 10:05 this morning, the Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe will speak on interest rates. The Bank recently raised UK interest to 3% in its November meeting, which was the largest hike in 33 years. The hike also increased borrowing costs to the highest level since late-2008.
BoE Policymakers voiced concerns about increasingly high inflation in the November meeting due to the rate’s rise back to a 40-year high in September. This is against a backdrop of a weakening economic outlook.
