MPC will also look at global issues and it is likely that UK rates will fall faster than previously thoughtUK inflation falls below 2% for first time since 2021Business live – latest updatesAt a glance, last month’s sharp drop in the headline inflation figure to 1.7% tells the Bank of England all it needs to know when it considers whether to cut interest rates next month.The plunge from 2.2% in August puts the rate of prices growth well below the central bank’s 2% target and back in territory that we last saw in early 2021 – long before the Russian invasion of Ukraine sent energy prices rocketing. Continue reading…
Source link : https://www.theguardian.com/business/2024/oct/16/sharp-inflation-drop-gives-green-light-to-more-aggressive-bank-of-england-rate-cuts
Author : Phillip Inman
Publish date : 2024-10-16 08:10:46
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Sharp inflation drop gives green light to more aggressive Bank of England rate cuts
