BoE Hold Risk: Inflation Surges to 9-Month High as Gilt Yields Soar

UK inflation has reached its highest level in nine months at 3.1% according to official figures released on Wednesday.

The Bank of England's Monetary Policy Committee is set to announce its decision on interest rates later this week, and Nigel Green, CEO of deVere Group, warns that a 'hold' could be the costlier option.

Green notes that markets are pricing in an 80% probability of a hold at 3.75%, with a rate hike pushed back to November.

'A hold is not obviously the safe one,' Green said.