Interest rate held as inflation may drop to 2% in months

The Bank of England has kept interest rates at 5.25% but markets forecast they will shift down from summer as inflation nears the 2% target.
Sky's Ian King has the latest from The City.
Read more here:
news.sky.com/story/bank-of-en...
#uk #finance #money
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[@user-bi8ko7kc6h]

MAY. The chances of me getting a lottery is higher than the inflation drops back down to 2% soon.

[@TomNook.]

Most people don't understand that inflation is accumulative. Every time they announce a new inflation rate, it doesn't replace the previous... It ADDS to the last and the ones before it.
That means even if inflation is at 0%, prices will still be 50-200% higher for most things than they were in 2019. This is the new normal.

[@tickledeggz]

I came here to make exactly this comment ^

[@RaRa-eu9mw]

This is false. Inflation rates are year on year, but measured monthly. An inflation rate doesn't compound on the one before it, but the one 12 months ago. Since 2019 inflation is not 50-200%, but 23%

[@user-gz6tx6yp3v]

Incorrect. Someone else has explained why I see and beat me to it.
But it doesn't compound, it is annual but tracked monthly.

[@paulommb]

This was an extremely interesting news. Hands down, VERY well presented. So clear!

[@petera8083]

Prices won’t drop by 2% though !

[@oipoip3935]

Inflation is the rate at which prices increase, interest rates going down will have no impact on prices it will only impact how quickly they rise.

[@proffpuff]

Insurance doubled energy tripled garbage

[@KJ-js7pi]

Rishi and Jeremy's plan is working :D

[@mrmeldrew693]

I got a 3.99% five year mortgage deal last week with no fee...the bank has slightly raised rates and pulled that deal since.
It's all a lottery, but I don't think rates are going anywhere.

[@Lynn.hot.legs.peters]

Inflation will rise over the next 6 months....no chance of any cuts !

[@Bangladeshbd-qi9zb]

Please barkfore England newes back😢

[@AssassinsBlade25]

Basic things needed to live going up more and more because companies are getting greedier everyday. This country is just a complete joke

[@Juliukas101]

Everyday? What?

[@user-bi8ko7kc6h]

We just f ed the EU import agreement😂😂😂 and the fight in Red Sea is keeping going. Why would the inflation drops? More like increase in depression.

[@anonymousone6075]

should raise rates... savers got boned for decades...... sick of protecting the people leveraged with debt to the eye balls...

[@CJones-99]

​@@greigsandersonhit a nerve?

[@VaultBoiyz]

BAN KFC.

[@Varghese9652]

Generation being poorer with money to banks

[@stephendevlin9809]

More bullshit 😂