Markets price in second interest rate rise

The Bank of England is reportedly preparing to raise interest rates again. If the monetary policy committee votes in favour of the rise, which many economists and the financial markets believe is likely, it will be the first back-to-back increase since 2004. BoE officials have not sought to quell speculation ahead of Thursday’s meeting that a rate rise is almost a certainty, following the increase from 0.1% to 0.25% approved by the MPC in December. That was the first rate rise in more than three years. In money markets, the probability of a rate rise this week to 0.5% is priced at almost 90%, and the majority of economists concur. The FT (£)