Want to create an interactive transcript for this episode?
Podcast: Beyond Currency
Episode: 16th December 2021 - BoE under pressure from Omicron
Description: "The Bank of England’s rate setting Monetary Policy committee will vote later this morning on whether to hike interest rates as inflation in the UK hits a ten year high of 5.1%.
Producer prices, the cost of goods at the factory gate, also hit a high in November, reaching 14.3%, up from 13.7%. This data provides a clue to the future path of consumer price inflation.
A month ago, the outcome of today’s meeting would have been an easy decision.
The Bank’s Governor following the previous meeting had commented that the MPC had decided to leave rates unchanged until they saw th...