The Bank of England may scale back interest rate rises due to the conflict in Ukraine as financial markets have slashed their predictions for hikes amid the crisis despite rocketing inflation.
ING experts said there had been a “massive” re-pricing of interest rates in the UK, with markets now betting on rates rising from 0.5% to 1.5% by the end of the year – down sharply on the previous expectation of a peak of more than 2.25%.
