The Latest Breaking News on Rates probably on hold but all eyes on RBA governor

The Consumer Price Index (CPI) - the headline measure of inflation - dropped to 8.7 per cent in April from 10.1 per cent in March

Inflation finally falls below double digits dropping by 1.4% to 8.7% according to the Office for National Statistics (ONS)

In April it forecast that UK output was expected to contract by 0.3%.

The Bank’s top economist Huw Pill acknowledged forecasts for inflation were ‘too low’, leading to mistakes in its decision-making

The UK’s inflation rate has been stuck above 10% for each of the last seven months

It is, perhaps, the nearest we’ve got so far to an admission from the Bank of England that things haven’t gone entirely to plan. Andrew Bailey, the Bank’s Governor, acknowledged last week that “some of the strength in core inflation…reflects second-round effects... And as headline inflation falls, these second-round effects…

Energy bills and a tight labour market continue to cloud predictions of a steep decline by the end of the year

Chair Jerome Powell indicated that the Federal Reserve will likely forgo an increase in its benchmark interest rate when it meets in June for the first time since it began raising its key rate 14 months ago to fight high inflation

Resolution Foundation says it is not clear that politicians are prepared for another year of food price rises