Famous last words, but next week’s Bank of England meeting looks set to be among the least unpredictable since the current tightening cycle began in late 2021. The last decision taken in September ended up on a knife-edge, and ultimately the committee opted to keep rates on hold in an unusually tight 5-4 vote. It’s tempting to conclude from that level of division that the risk of a November hike is relatively high. After all, it would only take one committee member to change their mind to tip the balance in favour of more tightening – but we’re doubtful. First and foremost, we’ve had very little data since that ... (full story)