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22.12 - 18:07
IMF warns Bank of England against inflation inaction ahead of key vote
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cnbc.comLONDON — The International Monetary Fund has urged the Bank of England to avoid «inaction bias» as it gears up for a key vote Thursday on when to hike interest rates in the face of high inflation.
The Bank's Monetary Policy Committee surprised markets in November by voting 7-2 to keep its benchmark interest rate at its historic low of 0.1%. Governor Andrew Bailey acknowledged that the «warning signs are there» on inflation, but said policymakers would need to see more data from the labor market to assess the effects of the country's furlough scheme before tightening policy.
Fresh data on Tuesday indicated that the labor market remained strong in November, with 257,000 staff added to payrolls, but the threat of the omicron variant at the end
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