The Bank of England’s monetary policy committee (MPC) yesterday kept its main interest rate unchanged at 4.75 per cent, with data indicating 12-month CPI inflation rising to 2.6 per cent in November from 1.7 per cent in September.
The economy has now contracted for two months in a row.
Headline CPI inflation is expected to continue to rise slightly in the near term, the central bank said.
The Bank of England’s monetary policy committee (MPC) yesterday kept its main interest rate unchanged at 4.75 per cent, with data indicating 12-month CPI inflation rising to 2.6 per cent in November from 1.7 per cent in September.
The economy has now contracted for two months in a row.
Headline CPI inflation is expected to continue to rise slightly in the near term, the central bank said.