Even if the Committee opts for the lower increase, this would still take the interest rate to its highest since the financial crisis.
Investors, like central banks, will be hoping the age of low interest rates has further to run.
It was over-optimistic to expect the world economy to cope with both a pandemic and a fairly major war and escape unscathed.
EU food price inflation has outstripped the UK’s since it left the bloc in 2020.
The global economy is spluttering – and inflation is giving central banks less scope to respond.
Neil Collins’ Notebook: Why lending to the government is a swizz, and the Bank of England’s unhappy 25th birthday.
Home buyers are likely to face the headwinds of higher mortgage rates, squeezed living standards, and higher taxes in the next two years.
When Sunak is back from his holidays, he should take a bus ride and ask his Yorkshire constituents how they are going to pay their energy bills.
Daily Briefing: Soaring fuel costs are a major contributor to the cost of living squeeze.
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