Related topic: uk economy

Holding policy too tight for too long comes with costs to output and employment, which could then pull inflation below target, Breeden says.

Industry experts are now unsure whether another rate cut will come before the end of the year.

Industry experts are now divided on whether there will be a further cut to Bank Rate before the end of the year.

Rising inflation is also dampening the chances of another Bank Rate cut this year.

Mann says she stands ready for "forceful policy action" in the future.

Industry experts are now split on when the Bank of England will next cut interest rates.

GDP data provides some relief for Reeves ahead of the Autumn Budget, economists say.

The latest forecast from the Bank now shows inflation peaking at 4% in September, up from its previous prediction of 3.7%

CPI inflation is now nearly double the Bank’s 2% target.

Markets are now pricing in an August cut to Bank Rate.