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Goldman Sachs raises its forecast for BoE rates peak to 5%

Published 27/04/2023, 12:37
© Reuters. FILE PHOTO: A general view shows The Bank of England in the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley
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© Reuters. FILE PHOTO: A general view shows The Bank of England in the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley

LONDON (Reuters) - Goldman Sachs (NYSE:GS) said on Thursday it was raising its forecast for the peak of interest rates set by the Bank of England to 5%, citing stronger-than-expected activity in Britain's economy.

The BoE's Bank Rate stands at 4.25% and investors in interest rate futures are putting a roughly 90% chance on an increase to 4.5% on May 11 after the BoE's next scheduled meeting, and a 60% probability of it hitting 5% by September.

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