The Bank of England is expected to hold interest rates at 5% on Thursday after it was revealed that inflation would remain unchanged at 2.2%.
The latter remains slightly above the Bank's 2% target, but governor Andrew Bailey has warned people not to expect a sharp drop in rates over the coming months.
In August, interest rates were cut for the first time since March 2020, though only five of the nine-member Monetary Policy Committee (MPC) voted to do so.
Mr Bailey, who had the deciding vote, has previously warned the Bank needs to "make sure inflation stays low and be careful not to cut interest rates too quickly or by too much".
When inflation increases, as it did so in October 2022 when it peaked at 11.1% following the pandemic and Russia's invasion of Ukraine, the Bank increases interest rates in the hope that more people cut back on spending, leading to demand for goods falling and price rises easing.
However, high interest rates can lead to businesses holding off on investing in production and jobs.
FTSE 100
The UK's flagship share index, the FTSE 100, was down 42-points at 8,253 shortly after opening this morning.
Brent crude oil futures were up 0.50%, trading at $74.02 a barrel.
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