Andrew Bailey says inflation is in line with BoE forecasts but markets view data as pushing back interest rate cuts
Analysis: Sunak hopes of pre-election rate cuts frustrated
The governor of the Bank of England, Andrew Bailey, has shrugged off a smaller-than-expected drop in inflation last month, saying he expected a sharp fall towards the government’s 2% target next month.
Speaking in Washington after news that the government’s preferred measure of the cost of living had eased to 3.2% in March, Bailey said the path of inflation was broadly in line with what Threadneedle Street had predicted in its quarterly health check on the economy.
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