Strategists at JPMorgan said the market was pricing a follow-up rate hike by May with a 50 percent chance of a third hike before the end of next year. GRAPHIC - Bank of England readies interest rate hike: http://tmsnrt.rs/2gZwWeDFORWARD GRIEVANCEThe Bank has long been criticised for its efforts to steer market expectations for interest rates, a policy called forward guidance introduced in 2013. Lomax, an MPC member for five years until 2008, recalled debates about the merits of forward guidance. "I think there's a high likelihood that they're going to trip over their own forward guidance," he said. Or if they don't do it, people will say 'what on earth was that forward guidance about?'"

Source: New York Times November 01, 2017 18:56 UTC