After more than a decade of ultralow interest rates, millions of British households suddenly face large jumps in their monthly payments, rocking the nation’s already weak economy.
Investors will get to weigh in after the Bank of England ended its bond market intervention and the bank’s governor offered conciliatory words over the weekend.
Andrew Bailey, the Bank of England chief, is trying to calm markets, wrestle inflation and maintain the bank’s credibility amid Britain’s financial storm.