Reported 24 days ago
UK inflation is likely to have peaked at its highest in 10 months in January, primarily driven by rising private school fees and other cost pressures, which has made the Bank of England cautious about reducing interest rates. Economists predict consumer prices could rise by 2.8% year-over-year, prompting worries about a darkening inflation outlook even as the economy stagnates. Despite calls for significant rate cuts, the majority of BOE officials believe a careful approach to borrowing costs is still necessary.
Source: YAHOO