The Latest Breaking News from The Bank of England

The UK chancellor Jeremy Hunt will have limited room for manoeuvre when he makes his autumn statement about the government’s financial plans on November 22. The government is committed to supporting the Bank of England’s current strategy for reducing inflation, which involves using rate hikes to slow down economic activity.

City Comment: There’s a lot to be said for stability and visibility of what the future might look like. Just ask the Prime Minister.

Bank of England will look beyond drop in headline figure, and it is too early to say cost of living crisis is over

Inflation in the U.K. dropped sharply in October to its lowest level in two years largely because last year's steep rise in domestic energy bills dropped out of the annual comparison

The decline has been hailed as a key victory for Rishi Sunak, who pledged to halve inflation, but it is also a win for the Bank of England

Cost of living campaigners say government should use September’s inflation rate to set benefits, not October’s, after CPI falls to 4.6% from 6.7%

Economists expect October’s reading to fall almost two points to 4.8%, helped by drop in energy prices

Thinktank says government and Bank of England need to take more joined-up approach to solving economic problems

The prime minister will find out tomorrow if double-digit inflation has halved, in line with his pledge

UK inflation fell to just 4.6%, its lowest level since 2021, in a key political victory for Rishi Sunak as well as a win in the Bank of England's battle to get prices back under control.

City expects inflation to fall in line with the prime minister's pledge to halve it, with much of the work done by the Bank of England