Could the Bank of England shock everyone and keep rates on hold when it meets on 18 December? For investors, it certainly would be a shocker; markets are pricing a cut on Thursday with a 90% probability. We agree that a cut is likely – particularly with that level of conviction among investors. Yet the news since November’s decision – when the Bank narrowly voted to keep rates on hold – hasn’t exactly been a slam dunk for a cut this time. October’s inflation data saw a rebound in food inflation and ongoing stickiness in services, once airfares were stripped out – even if both are fractionally below the BoE’s November ... (full story)