Bloomberg AI model predicts Bank of England to raise interest rate in February next year

The machine learning model constructed by Bloomberg's economic research team shows that the Bank of England (BOE) is highly likely to raise the benchmark interest rate from 3.75% to 4% in February next year, earlier than most economists' predictions of keeping interest rates unchanged. This model is trained on over 50 economic and market indicators since the independence of the Bank of England in 1997. If oil and gas prices continue and push inflation to around 4%, the risk of rising inflation expectations will force the Bank of England to tighten monetary policy. (Source: Bloomberg)