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The Guardian - UK
The Guardian - UK
Business
Graeme Wearden

Markets predict 6% UK interest rate by end of year

Bank of England United Kingdom Joe Nellis Inflation Recession
The Bank of England
The financial markets were volatile as economists warned that the Bank of England’s efforts to cool inflation by lifting its key lending rate to 5% could trigger a recession. Photograph: Yui Mok/PA

The financial markets are predicting UK interest rates will hit 6% by the end of the year, and remain at that level until next summer, after the Bank of England hiked its benchmark rate by half a percentage point.

The financial markets were volatile as economists warned that the Bank’s efforts to cool inflation by lifting its key lending rate to 5% on Thursday could trigger a recession.

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