Financial markets are betting the Bank of England will more than double interest rates by May next year, as concern mounts about further rises in UK inflation.
The shift in expectations in the swap market — which anticipates interest rates of 4 per cent in May compared with 1.75 per cent today — are among the biggest swings in recent years.
The shift in expectations, fuelled by persistent increases in forecast inflation and soaring energy prices, has been reflected in other markets. In the UK gilt market the cost of two-year borrowing for the government has risen more than 1 percentage point this month in the biggest rise on Bloomberg records going back to 1992.
您已阅读18%（668字），剩余82%（3117字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。