Interest rate cut - but budget means inflation will rise, Bank of England says

The Bank of England has forecast Rachel Reeves's first budget as chancellor will increase inflation by up to half a percentage point over the next two years, contributing to a slower decline in interest rates than previously thought. It comes as the Bank cut its interest rate to 4.75% Read more: https://news.sky.com/story/latest-bank-of-england-forecasts-fail-to-change-overall-picture-inflation-will-continue-to-fall-13249916 #inflation #economy #politics SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales