David McNamara: The UK tees up some difficult measures in the upcoming budget

Bank of England pauses further interest rate cuts until after this month's budget, which is likely to include income tax rises

Bank of England governor Andrew Bailey said 'rather than cutting now', he would prefer to wait for more data/evidence of the disinflation trend. Picture: Alastair Grant/PA Wire

The November meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank maintain the bank rate at 4%. 

This was the second consecutive meeting the BoE kept rates unchanged and was in line with market expectations.