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UK inflation slows to lowest level in almost 2.5 years
Credit: IndiaTimes- Published on March 20, 2024
Britain's annual inflation rate fell more than expected in February, official data showed Wednesday, fuelling speculation that the Bank of England will start cutting interest rates in the coming months. "The Bank of England has already said it's not going to cut interest rates in a hurry," Sarah Coles, head of personal finance at...
Video credit: ODN
Published on March 20, 2024 - 01:05
Chancellor hails inflation rate fall to 3.4%
Chancellor Jeremy Hunt announces UK inflation fell to the lowest level in more than two years, to 3.4%. He would not be drawn on whether the fall would allow him to announce pre-election tax cuts in an autumn statement. Mr Hunt said: “What I’m really saying is that as inflation gets closer to its target, that opens the door for the Bank of England to consider bringing down interest rates, that brings down mortgage rates, that makes a very big difference. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn