Data earlier this week showed consumer price inflation jumping higher more than expected, and hitting a 10 year high of 5.1% in November. Wages and employment gaining are also factors the Babk must cotned with today.

Prior to the CPI data bets on a BoE rate hike had fallen away given the rapidly rising case load and restrictions (re) imposed.

Back on December 3 a key MPC member, Michael Saunders, one of two members of the nine on the BoE Monetary Policy Committee who voted to raise Bank Rate to 0.25% in November, said there “could be particular advantages in waiting to see more evidence” of Omicron’s impact.

Stay tuned!