The Monetary Policy Committee of the Bank of England has voted 6-3 to hold interest rates at 5.25%, as expected. They will remain for another month at their highest level since 2008 after 14 consecutive hikes. No surprises – all speculation has been over developments in the New Year…

Federal Reserve officials are expecting a 0.75% cut next year while traders have priced in a 1% cut from the BoE for 2024. Rates need to fall soon to have any hope of avoiding an undershoot on inflation…