The Bank of England could hike interest rates as high as 7% to tackle inflation, economists have warned.
In a note written to clients, Alan Monk of JP Morgan said a hard landing for the UK economy "looks increasingly likely" warning of "potential upside to rates if expectations do become unanchored or remain high" according to Bloomberg.
Mr Monk reportedly noted that the rate would have to rise a further two percentage points to be able to make an impact on inflation, if it was "required".
