Faisal Islam: How high will interest rates go?
The BBC's economics editor views one more interest rate as likely, but thinks that will be all.
Interest rates have risen to 4% and the Bank of England has indicated there are more rises to come. The question is how many? There is a split on the rate-setting committee here.
Three of the nine voting members referred to "rises" plural. One member voted for a double increase to 4.25%. Three referred to just one more including governor Andrew Bailey.
My read on this is that the expectation is for one more rise in February. Two and done, but it depends.
Why have they raised now? High and rising inflation risks a further cycle of self fulfilling expectations of rising prices. It hasn't been seen so far, however. The war has lasted for 9 months, and led to oil prices used in the forecast averaging $108 a barrel.