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The Bank of England has frozen interest rates for the second month in a row but governor Andrew Bailey is warning they are more likely to rise than fall from here. Who's he trying to kid?
The Bank of England finally offered some relief to struggling mortgage borrowers last week by freezing interest rates at 5.25 percent, but it could be a long time before rates start to fall.
I've been crying out for the Bank of England to call a halt to repeated interest rate hikes and today it came to its senses and gave us all a break. Now let's cross our fingers and hope the misery is over.
Today's inflation dip is further confirmation that the Bank of England's policy of driving up interest rates to cool the economy is working. Now the BoE risks going too far and plunging us into a needless recession. It should stop.
The Bank of England is expected to increase interest rates to 5.5 percent at its next meeting on Thursday but markets reckon this could be the final hike as inflation is expected to slide.