Will interest rates rise next month?

Huynha

The current interest rate is 2.25%, do you think it's going to go up when it gets reviewed again on November 3rd 2022?

[Deleted User]

Hi,

do you think it might go down, with new chancellor, who knows?

RobM99

Not a clue.

t1redmonkey

Of course it will.  The only question is by how much it'll rise.  0.75% increase is the current forecast I believe.

Millyonare

Yes. A lot.

For the Bank of England...

A few say 0.50%
Many say 0.75%.
Some say 1.00%.

Dyor, etc.

Krakkkers

Yes, as above, up somewhere between 0.5 and 1%

sevenhills

Millyonare said:

Yes. A lot.

For the Bank of England...

A few say 0.50%
Many say 0.75%.
Some say 1.00%.

Dyor, etc.

But that is the base rate, I am expecting a 1% rise.
The Halifax has a one year fixed rate of 3.4% which is higher than some big names. The ones with lower rates may increase by 1% but perhaps not the Halifax.

CooperSF

I predict either 0.75 or 1.00%

theGrinch

Yes, but maybe by not as much as was expected  this time last week
There are several rises baked into long term expectations

Beddie

I'm guessing a 0.5% rise. There's too much uncertainty and the economy is looking awful. Previous rises have not really had a chance to bite either, in terms of driving down inflation.

cricidmuslibale

Beddie said:

I'm guessing a 0.5% rise. There's too much uncertainty and the economy is looking awful. Previous rises have not really had a chance to bite either, in terms of driving down inflation.

I now think you may be correct with 0.5% although personally I think a 0.75% rise would be more appropriate this time with a lesser 0.5% rise to follow on December 15. I suspect that the Bank of England monetary policy committee will be split with slightly more members voting for a 0.5% rise than those that vote for a 0.75% rise. There is actually one particular monetary policy committee member that may only vote for a 0.25% rise judging by what took place the last few times they have met!

All the recent evidence that I’ve seen appears to show that the current governor of the B of E is naturally reluctant to raise interest rates by more than a small percentage at a time even when the majority of informed commentators suggest that more significant interest rate rises are probably required; that together with the relative calm in the markets since Rishi Sunak took over from Liz Truss as PM, now points towards a 0.5% rise on November 3 imho.