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will go and they trade things called swaps in the city would gain or lose in value depending on where interest rates go. on the markets they anticipate that the bank of england s base rate, it s official read, will have to rise by 1.75% to 4% in november, currently 2.25, so nearly doubling over the next few weeks. and they are also anticipating the bank of england will raise interest rates in the coming weeks, even though it doesn t have a meeting and that s because they think the bank will be bounced into raising interest rates to try to defend the pound. it s part of the banking the s mandate that they keep inflation from 2% and miles away, 9.9 of the last account. but over the medium term, next to a three years, they have to try and ensure inflation gets back to target. if the pound is weakening, it means it is more expensive for say asda or sainsbury or tesco to buy its imported food, because they have to pay for it in pounds and therefore they have to have more

Interest ratesBank of englandBase rateIn the city1 752 25Banking the