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Evening Standard
Evening Standard
Business
Daniel O'Boyle

Bank of England ‘will not cut interest rates despite inflation fall’

Inflation Bank of England ​​Rishi Sunak Interest Rates

The latest plunge in inflation to 4.6% will be cheered on Downing Street and Threadneedle Street alike, but economists warned today it will not be enough for the Bank of England to think about cutting interest rates.

The decline has been hailed as a key victory for Rishi Sunak, who pledged to halve inflation, but it’s also a win for the Bank of England. The Bank hiked interest rates 14 times in its effort to bring inflation back down to its 2% target, before back-to-back pauses at its last two meetings.

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