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\t\tThe Bank of England’s officials will be taking a close look at inflation data.\t<\/p>\n\t\t\tMonday 15 December 2025 3:24 pm
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\t\t\tMonday 15 December 2025 3:25 pm\n\t<\/p>\n
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\t\tThe Bank of England’s officials will be taking a close look at inflation data.\t<\/p>\n
Inflation is expected to remain stubbornly high in fresh data to be released on Wednesday, adding greater scrutiny to the Bank of England\u2019s upcoming interest rates decision.\u00a0<\/p>\n
Price growth is set to remain at 3.5 per cent in the year to November, a slight fall from the month before, according to consensus established by Trading Economics<\/a>.<\/p>\n Year-on-year core inflation, which excludes volatile items such as food and energy is set to remain at 3.4 per cent.<\/p>\n Services inflation could jump to 4.6 per cent from the previous month\u2019s figure of 4.5 per cent, according to Deutsche bank. <\/p>\n The official data publication is set to come a day before the Bank of England<\/a>\u2019s policymakers reach a decision on whether to cut interest rates.<\/p>\n \t\tBank of England on inflation watch<\/p>\n Traders have priced in a 25 basis point cut, with Governor Andrew Bailey expected to make the final call in a close debate between doves and hawks.\u00a0<\/p>\n In the last meeting, Bailey said he would wait for more economics data to be published before making a judgment on whether to cut interest rates, adding to the significance of Wednesday\u2019s inflation data release.\u00a0<\/p>\n Since then, it has been revealed the UK economy contracted in October<\/a> while surveys have pointed to a continued decline<\/a> in the jobs market.\u00a0<\/p>\n The Budget has also since taken place, with deputy governor Clare Lombardelli <\/a>suggesting that Rachel Reeves\u2019 policies will strip 0.5 percentage points off headline inflation from April.\u00a0<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tBank of England decision to cut interest rates could be \u2018closer call\u2019<\/a><\/p>\n James Smith, UK economist at ING, suggested those voting for interest rates to be held would be closely looking out for changes in food price growth given it could weigh more heavily on consumer expectations.\u00a0<\/p>\n Bank officials remain \u2018divided\u2019<\/p>\n He said the Bank\u2019s next move was \u201cmore uncertain\u201d should it decide to cut interest rates this Thursday.\u00a0<\/p>\n \u201cThe fact that the committee is this divided means that it only takes one or two officials to shift their view to completely reshape the pace of rate cuts,\u201d Smith said.<\/p>\n \u201cWe think it will become more apparent over the coming months that the UK is becoming less of an inflation outlier.\u201d<\/p>\n