Interest rates – live: BoE to make decision after inflation higher than expected

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Stock market reaction and business news from Thursday

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The Bank of England faces a difficult balancing act with upcoming interest rates decisions, after the UK saw higher than expected levels of inflation in May. While expectation is that Thursday’s MPC ruling will be to stick with the base rate at 4.25 per cent, slowing growth and wages may push more voting members towards a chance of stance.

Meanwhile, rising oil prices and groceries shooting up at record levels in some areas mean the BoE dares not lower interest rates too fast, to allow inflation to skyrocket once more as it did across 2022.