Analyst: Bank of England less likely to raise interest rates but possibility not ruled out
According to Golden Ten Data on April 15, Peel Hunt senior economist Kallum Pickering stated that despite concerns about inflation, the likelihood of the Bank of England raising interest rates in 2026 has decreased. The firm expects that the Middle East war will be resolved soon and the Strait of Hormuz will reopen, which could allow the Bank of England to cut interest rates this year. However, Pickering said that if the Middle East war continues, “the Bank of England may be forced to take drastic action to boost confidence and stabilize inflation expectations.” Data from the London Stock Exchange Group shows that investors have fully priced in a 25 basis point interest rate increase by the Bank of England in 2026, with a 40% chance of a second rate hike by the end of the year.
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