Pound hits lowest level in six months ahead of Bank of England interest rate decision

on Thursday, but this week’s lower-than-expected inflation figures give decision-makers a little more leeway than they otherwise would have had, economists said.

The Monetary Policy Committee had been widely expected to hike rates again, from 5.25 per cent to 5.5 per cent, which would be the highest base rate since February 2008. Inflation hit 6.7 per cent in August, down from 6.8 per cent in July, and significantly lower than the 7.1 per cent that had been expected.

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