News that CPI figures came in at 4.2% in October, their highest level since 2011, beating out both market and economist expectations, has placed increasing pressure on the Bank of England (BoE) to raise interest rates, possibly at its next meeting in December.
According to data from the Office for National Statistics (ONS), the annual rate of the Consumer Prices Index rose to 4.2% last month, up from 3.1% in September, the fastest rise since November 2011, beating out predictions of 3.9% from economists. Some market participants are now actively calling on the BoE to take action, citing strong employment figures, published yesterday, as evidence it is now running out of excuses not to act. "After yesterday's strong employment data, the missing piece of the puzzle according to Governor Bailey, there is seemingly little reason to expect the B...
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