Inflation has increased for the second month in a row.

Headline inflation reaccelerated in October to the highest rate since April 2024. 

The OBR says market expectations for interest rates remain volatile and predicts further increases in mortgage rates.

September marks the first time inflation has been below the Bank of England's 2% target since April 2021.

Markets are currently pricing in a 25% chance of another cut tomorrow.

Industry experts predict there could still be at least one more rate cut this year.

UK CPI held steady at 2%, but the ongoing 'stickiness' of services inflation could give cause for concern at the Bank of England.

Inflation has returned to target for the first time in almost three years.

Core CPI remains elevated at 3.9%.

Pill said the MPC "needs to maintain restrictiveness in its monetary policy stance".