# Economic update: Prices and bank rates rise sooner than expected - House of Commons Library

> The House of Commons Library reviewed December economic data, noting November inflation of 5.1%, the highest in a decade. The Bank of England raised its rate from 0.1% to 0.25%, the first rise in over three years.

- Date: 2021-12-20 · published 2021-12-20T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/43864-economic-update-prices-and-bank-rates-rise-sooner-than-expected-house-of
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Faster UK inflation and tighter policy raise borrowing costs and can strengthen sterling. Feed buyers in the UK may see higher financing costs and import pricing pressure.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- commonslibrary.parliament.uk: https://commonslibrary.parliament.uk/research-briefings/cbp-11306/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.