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Evening Standard

Business

Simon English

Four more rate hikes this year, warns City as inflation takes toll

Inflation City Bank of England Economy United Kingdom Allianz Trade

The Bank of England has a target of 2% for inflation (Yui Mok/PA)
(Picture: PA Wire)

THERE will be at least four more interest rate rises this year and a surge of insolvencies as inflation takes its toll on an increasingly shaky UK economy.

That’s the latest City betting on the day inflation went to a 40% year high, jumping from 7% to 9% for the year to April.

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