Annual core CPI inflation eased to 3.5%.

A hold was widely expected today due to rising inflation and strong private sector wage growth.

Just 14% think that three more cuts before the end of 2025 is still realistic.

Inflation has now almost doubled since September, when it was 1.7%.

UK GDP has increased for the first time in three months.

Swap rates have been rising in recent weeks and concerns about persistent inflation is a key driver.

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.