With the UK’s annual inflation rate hitting just over five times the Bank of England’s (BoE’s) target, 10.1%, in March, all eyes will be on the BoE this afternoon for its latest interest rate decision. The BoE is expected to raise the bank rate by 25 basis points, to 4.5%, pushing borrowing costs to highs not seen in well over ten years, to tame high inflation.
Pound watchers will be keeping an eye out for any additional volatility in the lead up to, and aftermath of, the BoE’s interest rate decision later today.
