RSM UK Economist Says November BoE Rate Rise Is Almost Guaranteed
Thomas Pugh says U.K. inflation should remain above the Bank of England’s 2% target for a while after rising to 3.5% in September, driven by fuel prices.
Thomas Pugh, an economist at RSM UK, says U.K. inflation is likely to stay above the Bank of England’s 2% target for some time and that a November rate increase is almost guaranteed, following the latest inflation figures. Inflation reached 3.5% in September, driven by fuel prices, while energy, food and memory chip costs were also higher.