A decision on whether to hike interest rates from their pandemic low of 0.1% will be revealed by the Bank of England at noon.
Yesterday's surge in the inflation rate to 5.1% has stepped up pressure on policymakers to act, but most economists expect them to sit tight for another month due to economic uncertainty caused by the spread of the Omicron variant.
Counterparts at the US Federal Reserve have already signalled three rate rises next year, but Wall Street markets still rose last night despite the hawkish tone at the central bank’s policy meeting.
Elsewhere, online fashion retailer Boohoo today downgraded profits guidance as it blamed pandemic-led disruption for driving up costs and lengthening delivery times for international customers.
