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How much higher can bond yields go?

Goldman Sachs Exchanges

CHAPTER

The Bank of England Is in a Pickle

The Bank of England is in a very unenviable position where they have among the highest inflation among G10, and they have a pretty poor economy. The BOG is Dovish, but it can be relatively Dovish compared to other central banks because it has much lower inflation than other central banks. We think that constraint will prevent the Bank of England from actually being as aggressive as the Fed. That means the long-run nominal rates in the UK will not rise quite as much, our focus for Kenya guilds about 4%.

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