Bank of England governor talks up interest rate cut prospects as inflation eases to 3.2%
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Bank of England governor Andrew Bailey signals the UK is still on course for an interest rate cut as official figures show a further easing in the pace of price growth in the economy. The consumer prices index (CPI) measure of inflation slowed to 3.2% in the 12 months to March, down from 3.4% the previous month. Lower inflation is welcome for households as wages are rising at a faster pace than prices. The Bank of England may begin withdrawing its medicine to combat inflation in June. Financial market participants expect a first rate cut in August or September. Rising oil costs and strong US demand-led inflation are concerns. A rate cut ahead of the Federal Reserve risks weakening the value of the pound against the dollar and stoking inflation.

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https://news.sky.com/story/bank-of-england-governor-talks-up-rate-cut-prospects-as-inflation-eases-to-3-2-13116964