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9/21, 8:21 AM (Source: TeleTrader)
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BoE to increase interest rates in 2023 - UOB

The Bank of England is expected to increase its key interest rates as soon as next year, the United Overseas Bank estimated on Tuesday.

"UK policymakers will probably want more time to see how the labor market adjusts to the expiration of the furlough scheme before withdrawing stimulus," UOB Group's economist Lee Sue Ann said, noting the rate hike could happen even before the end of this year.

The British central bank held its rate at 0.1% during the latest voting of the Monetary Policy Committee.

Breaking the News / ND