Bank of England likely to go for a bigger than 75-bp rate hike: Report

Whether the Bank of England delivers a 75-basis-point increase in interest rates on November 3 or goes for an bigger lift to tamp down inflation is a close call among economists polled by Reuters . Rising borrowing costs are part of a cost of living crisis hammering consumer spending as Sunak becomes Britain’s third PM in less than two months in one of the most turbulent periods in British political history. A new budget is due to be published on October 31. Some contributors declined to participate in the poll, taken largely before Sunak’s appointment, following the political and economic