The Bank of England is on course to raise interest rates again next month, according to economists and investors, after inflation failed to come down as much as expected in March.
Official data today showed that annual consumer price inflation fell to 10.1 per cent last month, higher than the the 9.9 per cent forecast by economists, as food prices continued to surge.
The inflation reading shows that for the second consecutive month price pressures have proven more stubborn than expected, posing a headache for rate-setters at the Bank’s monetary policy committee (MPC) who have forecast a sharp drop in inflation this year.
Following the inflation figures, financial markets are now placing an overwhelming probability of another 25 basis point rise to borrowing costs at
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2023-04-19 10:18:45Z
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