Bank of England – Page 3

U.K. Inflation Rate Slows to 7.9 Percent

The larger-than-expected slowdown, led by motor vehicle fuel prices, offers some relief to the government and the Bank of England.

The Bank of England’s campaign to curb inflation is pushing up monthly payments for millions of homeowners.

Prices are still rising too fast for comfort in many major economies, and policymakers across the globe are trying to wrestle them under control.

Central bankers and economists gathered and, amid concerns about persistent inflation, wondered about all the things they still don’t know.

‘We know this is hard,’ the central bank’s governor said, after increasing interest rates by a half point, to 5 percent.