Despite Inflation BOE Needs To Justify Rate Rise With Growth

Of all the challenges currently facing the Bank of England, the one target policymakers are having no problem meeting with rising inflation, which is likely the envy of Yellen, Kuroda and Draghi.

CPI inflation came in at 3.0% in September — above the 2.8% year-on-year the Bank had penciled in back in August — 100 basis points above the central bank’s 2% target.

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• Japan’s Economy Near Record Postwar Economic Expansion

Rising Inflation has increased speculation that the Monetary Policy Committee will raise interest rates for the first time in nearly a decade when it meets next week. A 0.25% hike would take the central bank’s leading lending rate to 0.5%.