Is the UK Bank Rate Really Going to Tighten?

UK bank rate is now 4%. And this is one of the most abrupt tightening cycles that we've had in about 40 years. So where does that leave your outlook? Well, because they were a bit more hawkish than we expected with a 7-2 vote and 7 voting for 50 basis points,. I have to say this is a very close call. We thought they'd be done after today. But they're very data dependent now. They're probably not going to be surprised much to the downside over the next six weeks.