{"id":117108,"date":"2023-09-21T09:05:31","date_gmt":"2023-09-21T06:05:31","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/bank-of-england-faces-rate-hike-dilemma\/"},"modified":"2023-09-21T09:05:31","modified_gmt":"2023-09-21T06:05:31","slug":"bank-of-england-faces-rate-hike-dilemma","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/bank-of-england-faces-rate-hike-dilemma\/","title":{"rendered":"Bank of England faces rate-hike dilemma"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/117108\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nThe Bank of England is expected to raise its key interest rate for a 15th straight time Thursday but the possibility of a pause has surfaced after a surprise dip in UK inflation. The BoE had been widely tipped to raise borrowing costs again heading into this week\u2019s monetary policy meeting until official data Wednesday on consumer prices in August clouded the outlook. The UK central bank is announcing its decision a day after the US Federal Reserve held interest rates steady but has said another hike is likely in 2023, with fewer cuts in 2024.<\/p>\n<p>Thursday also sees rate decisions from the central banks of Norway, Sweden and Switzerland \u2014 all expected to hike as inflation remains relatively high in the three European nations. The BoE could still join them by raising its rate to 5.5 percent from 5.25. However, \u201cwhat had seemed like a sure thing is cast into doubt\u201d, noted Danni Hewson, head of financial analysis at AJ Bell. \u201cMoments after the shock inflation number was released, the market expectation of a Bank of England rate rise began to plummet.\u201d<\/p>\n<p>The Consumer Prices Index eased to 6.7 percent last month from 6.8 percent in July. That was the lowest since February 2022 and confounded expectations for an acceleration to 7.1 percent on higher energy prices. Following the data, a Bloomberg survey of analysts showed another rate hike was a 50-50 chance. Interest-rate decisions were due Thursday also from Indonesia, South Africa and Turkey.<\/p>\n<p>A fresh BoE hike would put its borrowing cost at the highest level since the start of the global financial crisis more than 15 years ago. Central banks have tightened borrowing costs to multi-year highs as worldwide inflation soared following Russia\u2019s invasion of Ukraine, with energy and food prices surging. The European Central Bank has carried out 10 straight rate rises but is now signalling that eurozone borrowing costs may have reached a peak. It comes as data this week showed eurozone inflation slowed slightly in August.<\/p>\n<p>UK inflation struck a 41-year peak at 11.1 percent in October 2022, while the BoE is tasked by the British government with keeping the level at about two percent. In a bid to cool prices, the BoE began lifting its key interest rate from a record low of 0.1 percent at the end of 2021, when inflation started to creep higher as economies slowly emerged from lockdowns. The increases have worsened a cost-of-living crisis, with retail banks following suit by significantly hiking mortgage rates. Landlords, faced with higher repayments, have in turn pushed up rents by sizeable amounts. At the same time, banks are offering higher returns on savings, for those who can afford to set money aside.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/world\/bank-of-england-faces-rate-hike-dilemma\/article\">DJ<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vaufien\/bank-of-england-faces-rate-hike-dilemma\/\">Bank of England faces rate-hike dilemma<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[3046,11564,6913,606,607,608],"class_list":["post-117108","post","type-post","status-publish","format-standard","hentry","category-news","tag-bank-of-england","tag-dilemma","tag-rate-hike","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/117108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=117108"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/117108\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=117108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=117108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=117108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}