For months, the Bank’s Monetary Policy Committee (MPC) has been hinting at rate hikes in order to combat soaring inflation. On Wednesday the Office for National Statistics is tipped to say that CPI inflation last month climbed from 4.2 per cent to 4.7 per cent, its highest level in a decade.
However, with the Government having enacted its Plan B due to the surging infection rate and the emergence of Omicron, economists believe that on Thursday the MPC will opt to keep it at the record low of 0.1 per cent to see what effect they have on the economy.
This story is from the December 12, 2021 edition of Sunday Express.
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This story is from the December 12, 2021 edition of Sunday Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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