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The Bank of England (BoE) shows that 58% of respondents in its inflation sentiment survey expect interest rates to rise over the next 12 months.
This figure has decreased from 74% in November last year.
A survey conducted by Ipsos on behalf of the Bank of England found that 21% of respondents expect rates to stay about the same over the next 12 months, up from 11% in November.
Elsewhere, the survey shows average inflation expectation for the coming year was 3.9%, down 4.8% from November.
When asked what would be best for the economy, 16% of respondents think interest rates should go up from 20% in November, and 33% think rates should go down from 30% in the latest poll.
Slightly more than a quarter (27%) of the thinking scores should remain at the same level, which is 2% more than in November.
When asked what would be better for people on a personal level, 27% of respondents said they would be better off if interest rates “raised” — the same number as in the November survey.
Meanwhile, 30% of respondents said they would be better off if interest rates were “cut”, as they were from 30% in November.
Overall, 25% of respondents say they are “very” or “fairly” satisfied with the way the Bank of England controls inflation, and 30% are dissatisfied in one way or another.
Ipsos surveyed two quotas of people aged 16 to 75 across the UK. The first sample was surveyed from February 3 to February 6, 2022, and the second – from February 17 to February 19, 2023.
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