It comes after inflation took a surprise leap to 10.4% in February according to data published yesterday.
The Bank of England is expected to raise interest rates for the 11th time in less than 18 months after Wednesday's surprise jump in inflation.
It is due to announce its latest decision at noon as it tries to reconcile the UK's weak economic outlook and an international banking crisis. Any increase would be part of a series of measures to reduce inflation, but would inevitably increase pressure on many people, particularly mortgage holders, already being squeezed by the cost-of-living crisis.
Many economists believed the Bank of England would pause its run of interest rate hikes as inflation appeared on course to fall steadily.Inflation hit a 41-year high at 11.1% in October. The US Federal Reserve raised its main interest rates by a quarter of a percentage point on Wednesday but indicated it would stop further increases.
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