First rate hike seen in 2023 – UOB

UOB Group’s Economist Lee Sue Ann still sees the BoE hiking rates in 2023.

Key Quotes

“UK policymakers will probably want more time to see how the labour market adjusts to the expiration of the furlough scheme before withdrawing stimulus.”

“While we certainly would not rule out an earlier move, our base case for now is still for the first rate hike to come in 2023.”