The Future Of UK Rate Hikes

By James Smith of ING Economics

Economic and Financial Analysis • Feb 17, 2023 at 8:02 PM EST

A recent drop seen in January's data could signal a potential pause ahead for the Bank of England. But one month does not make a trend.

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Could a surprise dip in UK services inflation be enough for the Bank of England to finally reach the end of its hiking cycle? We're not convinced it'll be entirely sufficient to fend off a 25bp move next month – but a pause could very well be on the cards from May

A recent drop seen in January's data could signal a potential pause ahead for the Bank of England. But one month does not make a trend, warns Developed Markets Economist James Smith, and we think that one more hike can still be expected

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