Bank of England expected to raise interest rates for first time in three years today – business live
The Guardian's business live blog tracks the Bank of England's widely expected first rate rise in more than three years, with markets pricing a 98% chance of a quarter-point hike to 4% at noon. PIMCO's Peder Beck-Friis says the Bank is mainly responding to higher energy prices, while Berenberg's Andrew Wishard predicts an 8-1 vote, and the blog notes oil has tumbled below $100 a barrel after the US midterms.
