All eyes on Bank of England as inflation returns to 40-year high

Need BoE and Treasury to unite

As UK inflation hit double digits for the second time this year, investors are waiting to see how bold the Bank of England’s next move will be.

The UK Consumer Prices Index rose by 10.1% today (19 October), according to data from the Office for National Statistics. This was a reverse on the previous month when inflation dipped to 9.9%, but this was only a temporary blip as economists were already forecasting a forthcoming rise as higher prices lingered. UK inflation rises to 10.1% in September Experts said all eyes were now on how the government and Bank of England would react to the inflation news, with interest rates expected to rise further next month. "The inflation outlook suggests that the Bank could go big at its...