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An interest rate rise in Omicron times? It could just happen
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There is a contrarian view of Britain’s economic outlook. Those who subscribe to it argue that despite fresh government restrictions to combat the Omicron variant, the recovery is robust and the Bank of England will have to raise interest rates when it meets this week.
It is a minority view in the City, but it could find favour inside Threadneedle Street when members of the nine-strong monetary policy committee (MPC) gather, and bring a surprise increase in the base rate from 0.1% to 0.25%.
Three-quarters of investors are now betting on rates staying where they are, but Sanjay Raja, chief UK economist at Deutsche Bank, is not among them. “Fundamentally,” he says “news of the Omicron variant has changed very little on the medium-term economic
Read more on theguardian.comAbout this in other media
Omicron cases 70% less likely to be hospitalised, UK health agency report suggests euronews.com /2 years ago
Dismal post-Christmas forecast for Omicron-hit high streets in UK theguardian.com /2 years ago
UK loses appetite for pre-Christmas dining out because of Omicron theguardian.com /2 years ago
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