Another Reluctant Hike from the ‘Old Lady’ – Playbook for Trading the BoE
The Bank of England look set to deliver a second straight 50bps hike at the February MPC meeting, taking Bank Rate to 4%, with such a move being fully priced by money markets. Such a hike, which has been relatively well telegraphed by MPC members in recent commentary, would take Bank Rate to a fresh post-GFC high.