The Bank of England faces a particularly stubborn inflation problem that may stop it from cutting interest rates as sharply as peers next year, investors have warned, as the central bank prepares for its final policy meeting of 2023.
The Monetary Policy Committee is widely expected to say on Thursday that it is keeping its critical rate at a 15-year high of 5.25 per cent as it reiterates pledges to maintain a “persistently” tough stance on the cost of borrowing.
The MPC voted at its past two meetings in September and November to hold interest rates at that level, after raising them from historic lows since the end of 2021.
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