Rate predictions 2022, 2023

Descrabled

I agree with Masonic.  The BoE has been slow to react, too timid with increases, and show little ability to predict what is going to happen.  Food inflation at 15%, energy going up by 50% in October.  The government has to protect pensioners and those on benefits.  The middle earners will be squeezed by inflation. We need higher rates to make savings attractive, but we won't get them.

Dec 15th 2022 - 2.5%

Dec 14th 2023 - 1.0%

Zerforax

I think we'll see increases to keep up with USA and using inflation as the reason for it. And then we'll hit a recession and then rates will start coming back down again.

Black_Cat2

3.5% 2022
2.0% 2023

Optimistic... 

SonOfPearl

2.75% 2022
3.25% 2023

RG2015

Current 1.25%
4 Aug    1.50%
15 Sep  1.75%
3 Nov    2.00%
15 Dec  2.00%

2023, 2.00% to 2.25% for most of year to combat the recession whilst continuing the fight with inflation.

Dandytf

2022 end1.75%
2023 end 3.25%

sevenhills

MX5huggy said

Apart from 0.25 to 0.1 and back to 0.25 it’s been multiples of 0.25 since October 1996 when BoE took responsibility for rate setting from the Government. 

2022 - 3% 
2023 - 4%

A rise of 0.5 would be an indication that they started increasing too late.

Swipe

sevenhills said:

MX5huggy said

Apart from 0.25 to 0.1 and back to 0.25 it’s been multiples of 0.25 since October 1996 when BoE took responsibility for rate setting from the Government. 

2022 - 3% 
2023 - 4%

A rise of 0.5 would be an indication that they started increasing too late.

Everyone knows it's too late. It didn't prevent the US raising by 0.75% last increase.

sebtomato

2022: between 1.75% and 5%
2023: between 0.25% and 7%

Pretty sure I am 100% correct

sebtomato

More seriously, the whole UK economy is built on property prices, so BoE is going to do as much as it can to keep interest rates down. Anything above 2 or 3%, and property crash is guaranteed, with also people stopping spending due to the negative sentiment.

If inflation is imported, then increasing interest rates won't make much difference anyway. For instance, higher energy prices due to gas prices (Russia), wheat/grain prices due to war in Ukraine etc.