MANCHESTER, England, Dec 15 Reuters A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how many more will be needed with the economy sliding into recession but inflation still above 10.

The Monetary Policy Committee MPC has faced both encouraging and worrying news on the economy since a majority voted in early November to raise rates by 0.75 percentage point, the biggest hike since 1989.

Consumer prices rose by less last month than the BoE had expected, according to data published on Wednesday, and business surveys have pointed to fading momentum in the economy.

But basic wages grew at the fastest pace since at least 2001, excluding the pandemic period, according to figures released on Tuesday probably worrying those officials who see a greater risk of inflation becoming embedded.

Britain39;s economy looks set to be the weakest performer among Group of Seven nations in 2023, according to the Organisation for Economic Cooperation and Development.

While the pound has strengthened over the last month, the country39;s inflation problem is being compounded by an acute shortage of workers to fill vacancies, leaving the BoE facing a difficult balancing act.

A big majority of the 54 economists polled by Reuters last week predicted a 0.5 percentage point increase in Bank Rate, which would take it to a 14year high of 3.5.

Investors mostly agree although financial markets put a…