Reuters Poll: BOE to raise policy rate by 25 bps to 1.25% on June 16

55 of 56 economists that took part in a recently conducted Reuters poll see the Bank of England (BOE) hiking its policy rate by 25 basis points to 1.25% on June 16%. 

"Roughly two-thirds, 36 of 56 economists, see the next 25 basis point hike to 1.50% in the third quarter, which would most likely come at the August meeting with the next round of quarterly BoE forecasts," Reuters further reported. "Around one-third see rates at 1.75% by-end September, suggesting back-to-back 25 basis point rises."

Market reaction

The British pound stays on the back foot following this headline. As of writing, the GBP/USD pair was losing 0.8% on a daily basis at 1.2215.