Interest rates hold

THE Bank of England is set to keep interest rates unchanged today, but its decision comes amid mounting pressure to show it can keep soaring inflation in check.

Policymakers on the Bank’s Monetary Policy Committee (MPC) are expected to hold rates at 0.1%, where they have been since being slashed to new historic lows last March at the height of the pandemic. It is also likely to make no changes to its £895 billion quantitative easing (QE) programme.