Chetwood Bank: UK inflation rates fall
Paul Noble, CEO of Chetwood Bank, reacts to today's surprise drop in inflation:
'Today’s inflation data will feel like a balm to those stung by recent results. While economic uncertainty persists, fuelled in no small part by current events, today’s result offers hope that inflationary pressures might be easing – if only for a moment.
After a first Budget that left a significant mark, the Chancellor now faces another pivotal moment. The new government’s balancing act remains delicate, but today’s figures provide some breathing room ahead of the Spring Statement later today. The Bank of England, too, will be watching closely as it weighs the timing of future rate cuts.
With the question of further interest rate cuts playing out over the coming months, consumers must act now to secure the best savings returns. Financial institutions have a key role to play in ensuring that savers can access competitive and meaningful options no matter what the central bank decides.'
