There are various factors at play in the MPC’s decision tomorrow. As we’ve seen, inflation might be about to fall – but it hasn’t yet. The economy is plugging away, but is far from thriving. “We think a majority of committee members will want to see much clearer evidence of downside surprises in the data being sustained and the Agents' findings on next year's pay deals before voting to cut Bank Rate again,” said Edward Allenby, senior economist at Oxford Economics. Allenby highlights that the MPC will be much better-informed by the time of its December meeting. There will have been two further inflation reads ... (full story)