Bank of England holds interest rates steady at 4.75% amid heightened inflation

Six MPC members, including BoE governor Andrew Bailey, voted in favour of maintaining the current interest rate, while three members voted to trim it down by 25 basis points to 4.5%. The decision followed a 2.6% rise in the annual inflation rate in November, up from 1.7% two months earlier in September. The data for November was slightly below FactSet's consensus, which expected that figure to stand at 2.7% last month. According to BoE, the inflation came in slightly higher than previously expected, "owing in large part to stronger inflation in core goods and food". "Monetary po...