Bank of England Rate Decision Hinges on Inflation Concerns

The Bank of England (BoE) is set to reveal its latest interest rate decision today. The central bank could become the latest in a string of global central banks to make a move on rates, following recent increases from the US Federal Reserve and European Central Bank.

A worse-than-expected inflation reading this week has thrown today's decision wide open. UK Consumer Price Index (CPI) climbed to 3.1% in August, up from 2.9% in July and well above the Bank's 2% target.

Nouran Moustafa, executive financial and mortgage adviser at Roxton Wealth, told Mortgage Introducer that the committee faces an uncomfortable decision whichever way it votes today, with political and economic pressures pulling in opposite directions.