In addition, new data showed the number of people employed in the UK rose after the closure of the government’s furlough scheme, which strengthens the case of an interest rate rise.

The number of payrolled employees rose by 160,000 to 29.3 million between September and October, according to the Office for National Statistics. The employment rate averaged 75.4 per cent in the third quarter, up 0.4 percentage points from the previous quarter.

"I'm very uneasy about the inflation situation...I want to be very clear on that. It is not of course where we wanted to be, to have inflation above target. On the decision itself, however, it was a very close call in my view.", Andrew Bailey said told the Treasury select committee.

The FTSE 100 remain flat this morning. Imperial Brands posted today rising profit for the year ended Sept. 30, mainly driven by one-offs.

Things to read today:

Investors lulled into ‘dreamland’ by central banks, warns Bill Gross (Financial Times)

Biden, Xi Seek to Ease Hostilities in Virtual Meeting (WSJ)

U.K. Labor Market Data Strengthens Case for BOE Rate Rise (Bloomberg)