There has been no change in the interest rate as the Bank of England held it at 4.5%.
Rising inflation has given the central bank cause for concern.
The Bank is mandated to keep inflation as close to 2% as possible. The current rate is 3%.
Be the first to get Breaking News
Install the Sky News app for free
This breaking news story is being updated and more details will be published shortly.
Please refresh the page for the fullest version.
You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.
