Premier Miton Fund Manager Says Bank of England May Not Need Further Rate Hikes This Year

Emma Mogford, a manager at the Premier Miton Monthly Income Fund, said the Bank of England may not need to raise interest rates further this year after it kept its policy rate unchanged at 3.75% on Thursday. According to Jin10, Mogford said price increases later this year linked to the war in Iran could be offset by weakening demand. She added that wage growth expectations were only moderate given a relatively weak labor market. The Bank of England approved the decision to hold rates by a 7-2 vote. Two policymakers favored a 25-basis-point rate increase.