Bank of England set to hold interest rates after inflation jump
The Bank of England is poised to leave interest rates on hold this week after a jump in inflation and uncertainty over the Budget’s economic impact.
Policymakers are expected to keep rates at 4.75 per cent at their next meeting on Thursday after making cuts in August and November.
Although inflation fell below the BoE’s two per cent target in September, the latest official figures showed it jumped back up to 2.3 per cent in October.
The reading marked the sharpest rise in two years and was higher than economists had expected, mainly due to rising energy bills.
https://www.cityam.com/bank-of-england-set-to-hold-interest-rates-after-inflation-surprise/
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