The Bank of England (BoE) has decided to maintain interest rates at 4.75% due to reaccelerating inflation in the UK. UK inflation rose to 2.6% in November, above the central bank's 2% target. The Consumer Price Index including owner occupiers’ housing costs (CPIH) climbed to 3.5%. Inflation in the services sector remains a concern for the central bank. The BoE's decision follows the US Fed's cut in interest rates, which had a hawkish tone and led to a decline in global markets, including a dip in the price of Bitcoin.



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