Monetary Policy Committee

New PM increasingly likely

The UK’s Consumer Price Index rose 20 basis points above expectations to 5.4% in the 12 months to December 2021, according to the Office for National Statistics, reaching its highest level since March 1992.

Rate rise could bring end to QE

Another rate hike expected in February

After recent interest rate hike to 0.25%

Decision expected on Thursday

Inflation expected to hit 5.5% next year

Economy still ‘vulnerable’ to Covid shocks

Inflation above target

Inflation rises to 4.2% in October