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Bank of England optimistic, expects inflation to fall
04:52
Europe
Bank of England optimistic, expects inflation to fall
The Bank of England has kept interest rates steady at 5.25 percent with authorities optimistic that inflation is heading down. Some analysts are forecasting rate cuts as early as June. But in the US the FED is less optimistic about the progress of reducing inflation. So what are the drivers of inflation for these economies and how do they differ? In the UK, inflation has been on the rise propelled by soaring food and energy bills. Demand for oil and gas skyrocketed after the COVID-19 pandemic with global events like Russia's war in Ukraine and Israel's onslaught in Gaza pushing prices up further.
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