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of the financial crisis, 2008 ish? yes. and they have said they will stay about that level for quite a while, so the idea that interest rates are here to stay is here to stay. and the big picture message is not great, it s pretty bleak, but they are kind of saying things might not be as bad as had been predicted. yes, that s where the graphs come in. we will now try and paint graphs with words, but they looked at inflation, which they do in all these reports and actually, they are now suggesting that inflation will fall faster than they predicted when they lasted this back in november. politically, that helps rishi sunak, showing his first pledge of halving inflation by the end of the year is comfortably going to be met on this trajectory. yes, and voters and lots of people will say hurrah to that. as far as the politics is concerned, there will be, as there was when he announced this, a slight scepticism about the extent to which he is actually responsible for that. it is qu

Bbc newsIt s adam in the studioJustine greeningGreater manchesterAndy burnhamSpoiler alertInterest ratesBank of englandMonetary policyThe big pictureHalving inflationRishi sunakGovernment perspectiveThough chancellorjeremy huntEconomy shrinkingThe end