Bank of England: 'No one knows' at what point the base rate is going to peak

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Sky's Economics and Data Editor Ed Conway says that amid the unexpected base rate's hike of 50 basis points "no one knows" at what point it is going to peak.

He added that today's decision to raise the base rate by 5% is a sign of just "how worried the Bank’s Monetary Policy Committee is about inflation", which looks like it is becoming dangerously sticky.

Interest rates latest: https://news.sky.com/story/interest-rates-latest-updates-bank-of-england-about-to-announce-new-interest-rate-as-13th-hike-in-a-row-expected-12615118

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