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2% target and justify cuts to interest rates. mr powell s remarks came after higher than expected figures for consumer price index inflation in march. investors now forecast the first move to cut interest rates will come in september. from new york, here s michelle fleury with more. higherfor longer, that higher for longer, that is the message on us interest rates. each of the federal reserve that policymakers have not seen enough progress on inflation since its rapid decline last year. with inflation likely to take longer to return to the fence desired target of 2%, a cut in rates he said did not seem justified. we said that we will need greater confidence that inflation is moving systemically towards 2% before it would be appropriate to his policy. it would be appropriate to his oli . . ., ., ., policy. the recent data have clearly not policy. the recent data have clearly not given policy. the recent data have clearly not given us - policy. the recent data have cl ....
and this was in dubai yesterday. we will look at the impact a year s worth of rain had in the space of one day. in the uk, it stays cool and showery but there are signs of something a bit more dry this weekend all coming up here on bbc breakfast. it s wednesday 17th april. in the next hour the latest inflation figures will be released, telling us how much the price of our everyday shopping is going up by, and if cost of living pressures are easing. the rate of inflation fell last month to its lowest level in almost two and a half years. but it s still above the bank of england s target. our business correspondent marc ashdown has this report. the weekly shop, energy bills, and eating out the costs for all are continuing to ease, bringing welcome relief for household finances. the pace of inflation continues to slow down from a peak of 11% in october 2022, to around 3% now. you d have to go back to the autumn of 2021, at the height of the covid pandemic, to find pric ....