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Markets think Omicron plan B will delay rise in UK interest rates
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New restrictions to limit the spread of the Omicron variant will delay an interest rate increase from the Bank of England despite signs that the government’s measures will add to the cost of living for hard-pressed consumers, the City believes.
The pound fell on the currency markets on expectations that Threadneedle Street’s monetary policy committee will shy away from the first increase in borrowing costs since the start of the pandemic, and instead join the Treasury in adopting a wait-and-see approach to Omicron.
The government’s plan B measures, announced on Wednesday, will see workers asked to stay away from their offices and Covid passes made compulsory at larger venues. The curbs are expected to add to the cost of living, as spending
Read more on theguardian.comAbout this in other media
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
Omicron cases have reduced hospitalisation risk, early studies say euronews.com /2 years ago
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