Bank of England 'showdown' on inflation imminent

Inflation rises to 4.2% in October

clock • 3 min read
Sterling rose against the euro to its strongest level since February 2020
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Sterling rose against the euro to its strongest level since February 2020

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...

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