Bank of England Governor Andrew Bailey said on Tuesday that the central bank was getting nearer to a peak for interest rates.
"I can't tell you whether we're near to the peak, I can't you whether we are at the peak. I think we are nearer to the peak than we were," Bailey told lawmakers from parliament's Treasury Committee.
The BoE has raised interest rates repeatedly since December 2021, from 0.1% to 4.5% today. Financial markets fully price in further increases to 5% by the end of 2023. (Reporting by William Schomberg and Suban Abdulla, writing by Andy Bruce)