Week ahead: Bank of England to rock markets with 75bps rate hike

Markets are preparing for a steep rate hike by the Bank of England on Thursday, but not as bad as first feared after former prime minister Liz Truss’s tax cutting mini-budget last month.

by | 30 Oct, 2022

London’s premier FTSE 100 index posted a decent performance last week, adding 1.12 per cent to close at 7,047.67 points, while the domestically-focused mid-cap FTSE 250 index surged more than four per cent to close the week near the 18,000 mark.

Officials at the Bank on Thursday are expected to raise interest rates 75 basis points, the eighth hike in a row, to three per cent.

Read more at City A.M.

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