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Investors believe Bank of England is likely to act amid sustained rise in inflation from Iran war
The Bank of England will raise the cost of borrowing four times this year, pushing UK interest rates from 3.75% to 4.75% amid the conflict in the Middle East, according to financial market speculators.
In a blow to mortgage payers, international investors are betting that the UK is vulnerable to a sustained rise in inflation after the US-Israel attack on Iran.
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