Inflation news

Posted on 19 April 2007 by Ray Boulger

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So inflation has passed the magical number – that’s 3 by the way.  As such, the governor of the Bank of England has had to write to Gordon Brown explaining how this has happened.  The bad news is that this means we are all but certain to get another interest rate rise in May, pushing rates to 5.5%.  However, remember that everyone is expecting inflation to come down dramatically in a few months time when the dramatic reduction in the cost of most utilities is factored in.

Category: Bank of England

 

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