CPI inflation doubled in December to 0.6% from 0.3% the previous month.

Markets are pricing in the Bank of England keeping the base rate low, or even cutting it further, throughout 2021 despite the roll out of Coronavirus vaccines and the emergence of a Brexit deal, according to AJ Bell.

The Bank of England’s Monetary Policy Committee (MPC) voted yesterday week to maintain its Bank Rate at 0.1%.

The Bank of England has released another £150bn of quantitative easing (QE) to help prop up the economy as it enters a second national lockdown today.