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BoE needs to raise rates next week to calm markets: Deutsche Bank analyst

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London (Reuters) – The Bank of England needs to raise interest rates sharply between next week’s meeting as early as next week to calm markets and restore credibility, 400200 Deutsche Bank (ETR: 50DBKGn) said Friday.

British government bond yields posted their biggest one-day rise in more than three decades on Friday, while sterling fell 3% to a new – The record low for the year came after UK finance minister Kvassey Kwarten proposed a series of major tax cuts to be funded by public borrowing. In a research note, Deutsche Bank’s George Saravelos said the required policy response was clear: “The Bank of England will Zhou hiked rates sharply between meetings to regain market trust.”

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