Consumer Prices (Apr.)

If the rise in CPI inflation from 7.0% to a 40-year high of 9.0% in April wasn’t bad enough, inflation will probably rise further to 10% in October and will then fall back to the 2% target only slowly. That’s why we think the Bank of England has more work to do and will raise interest rates from 1.00% now to 3.00%.

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