of people around the world. here in the uk, there s been another fall in the inflation rate, the global picture is somewhat mixed and that s giving central bankers the people who decide how much it should cost to borrow money plenty to think about. uk inflation for march has been reported at an annnualised rate of 3.2%. that data coming out earlier today. that s a long way from its recent peak of just over ii%. the latest figures show a fall in the cost of meat and furniture, among other things. but many forecasters had been banking on a more significant drop than this. so where does that leave the bank of england and its 5.25% interest rate? there had been an expectation that the bank s policymakers could reduce the cost of borrowing in may orjune, but many forecasters now think it could be later in the summer. the uk s central bank has a similar dilemma to its us counterpart, where inflation is at 3.5% after last week s unexpected jump. and that stubbornness is why ther
but many forecasters had been banking on a more significant drop than this. so where does that leave the bank of england and its 5.25% interest rate? there had been an expectation that the bank s policymakers could reduce the cost of borrowing injune, but many forecasters now think it could be later in the summer. the uk s central bank has a similar dilemma to its us counterpart, where inflation is at 3.5% after last week s unexpected jump. and that stubbornness is why there s a growing wariness of cutting the cost of borrowing too soon. that was a point that was emphasised by the world s most powerful central banker, the head of the us federal reservejerome powell, during a speech in washington. we ve said at the fomc that we will need greater confidence that inflation is moving sustainably towards 2% before it would be appropriate to ease policy. we took that cautious approach and sought that greater confidence so as not to overreact to the string of low inflation readings