With the central bank committed to getting inflation back on target and the global banking sector looking a good deal more stable, the latest developments in consumer prices suggest that yet another monetary tightening this week is all but nailed on. The widely-held view is that the MPC will choose to hike Bank Rate by a further 25 basis points to 4.50 percent, matching its highest level since April 2008 and making for a twelfth increase in as many MPC meetings. The move would also boost the cumulative tightening in a cycle that began back in December 2021 to some 440 basis points. However, once again the decision is ... (full story)