Interest rates today: Bank of England expected to hold rates despite inflation tumbling

Governor of the Bank of England, Andrew Bailey, is focused on achieving a 2 per cent inflation target. Sign up for our Morning Headlines email for news updates from around the world. The Bank of England is expected to keep interest rates unchanged in an upcoming announcement, despite a decrease in inflation. In February, inflation dropped to 3.4 per cent, the lowest since September 2021. The Bank is likely to maintain rates at 5.25 per cent, with expectations for a rate cut later this year. Governor Bailey anticipates inflation to reach the 2 per cent target between April and June. The positive inflation news has led to speculation about potential pre-election tax cuts and interest rate reductions.



Source link