Bank of England preview: Nightmare on Threadneedle Street as MPC poised for big decision on rates
Its Monetary Policy Committee will decide at noon tomorrow, but the best guess is that it will hold them at 0.1%. The pressure on it is rising, especially after today’s surging inflation figures. Inflation is running at 5.1%. That is more than twice 2% the Bank’s target rate. Many in the City think it has got this all wrong.
