The Reassessment of Inflation Expectations

Markets reassessed its perceptions of how high the Bank of England is going to have to hike bank rates. They're now thinking it will have to be somewhere between kind of 525 and 550, which is so much higher than I guess any of us thought at the beginning of this uptick in inflation. It affects all of us as people with mortgages, first time buyers,. renters because it pushes up rents indirectly and it affects companies borrowing as well.