UK inflation could top 5% by early 2022, says Bank’s new chief economist

MPC finely balanced' over whether to raise interest rates in November, adds Huw Pill

Inflation in the UK could rise above 5% by early next year, according to the Bank of England's new chief economist.

Huw Pill, who replaced Andy Haldane in September, said that the Bank of England's monetary policy committee was finely balanced" over whether to raise interest rates at its next meeting on 4 November and that it would be a live" decision.