When the Monetary Policy Committee (MPC) meets later in June, we expect there to be a tight decision around holding Bank Rate at 3.75% or hiking it to 4%. For now we expect the MPC to decide to hold rates again, as it did at its April meeting. Given the heightened concerns among MPC members about the potential for second-round inflationary effects, we do expect a 25-basis point hike this year, as long as there is no drastic change to