Barclays: Rising Oil Prices May Push Bank of England Officials to Signal Rate Hikes

According to Barclays analysts on July 13, rising oil prices stemming from U.S. strikes on Iranian targets and Iranian attacks on shipping in the Strait of Hormuz over the weekend could prompt Bank of England monetary policy committee members to signal inclination toward interest rate increases in coming months. LSEG data shows the market has fully priced in a 25-basis-point rate hike in 2026, with a 28% probability of another 25-basis-point increase before year-end.
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