According to a Reuters poll of economists, the Bank of England is expected to keep its Bank Rate at 5.25% on November 2nd, with the majority of respondents predicting no further policy tightening. While inflation remained at 6.7% in September, the highest among major advanced economies, the economists cited the impact of previous rate hikes and a lack of significant data to justify a change in policy.

However, 16 of 28 respondents said they believed there was a high chance of another rate increase before the end of the year. The poll also predicted slow growth for the UK economy over the next few quarters, but a rebound in 2023.