Bank of England: Inflation is poised to top 4%

The Bank of England said the chance for higher interest rates appeared to have strengthened on Thursday after it pushed up its forecast for inflation at the end of the year to over 4%, more than twice its target rate.
Policymakers at the Bank of England unanimously voted to leave its main interest rate unchanged at a record low of 0.1% and chose to stick to its asset purchase target of £875 billion (USD 1.2 trillion).
As for0 inflation, the Bank of England has warned consumer prices are likely to rise to slightly above 4% this year, double its target level, owing largely to the deepening energy price shock.