Incoming deputy governor Sarah Breeden said prices are more likely to overshoot than undershoot forecasts.
The Bank of England's next monetary policy move is now wide open, following a significant downside surprise in the August inflation print out on Wednesday.
Chancellor Jeremy Hunt declared the tide was turning in the battle against inflation after Bank governor Andrew Bailey cast the deciding vote to stop 20 months of interest rate rises.
ALEX BRUMMER: After a gruelling series of 14 consecutive interest rate rises, taking the base rate to 5.25 per cent, the Monetary Policy Committee has hit the pause button.
The Bank of England will announce whether there will be another increase in interest rates on Thursday
Business groups and economists fear further increases risk rise in corporate bankruptcies and unemploymentUK inflation in surprise fall to 6.7% despite rise in fuel pricesWhich UK goods and services have changed most in price?The UK’s headline inflation rate has come in lower than expected at 6.7% but it still seems highly probable that the Bank of England will raise interest rates yet again on Thursday.Not for the first time, central bank policymakers could end up disregarding the warnings from...
By PAN PYLAS Associated Press LONDON (AP) — Inflation in Britain fell unexpectedly in August to its lowest level since the start of Russia’s invasion of Ukraine, which led to sharp rises in energy and food costs. The Office for National Statistics said Wednesday that inflation, as measured by the consumer prices index was 6.7%
The Bank of England on Thursday ended a run of 14 straight interest rate hikes after new data showed inflation is now running below expectations.
UK inflation in surprise fall in August, though Bank of England still set to raise rates
LONDON (AP) — Inflation in Britain fell unexpectedly in August to its lowest level since the start of Russia's invasion of Ukraine, which led to sharp rises in energy and food costs.
Speaking at the Canadian Association for Business Economics, Mann said "the risk of tightening too little is more salient" than tightening too much.
Analysts had predicted that the interest rate could jump to the highest level since February 2008 but after an unexpected fall in inflation, this outcome became less likely