UK Inflation Expected to Fall, Interest Rates Unchanged, Uncertainty Surrounding Unemployment Measure

UK inflation is expected to fall in line with other countries, driven by a drop in energy bills. The Bank of England has decided to keep interest rates unchanged, citing the need for monetary policy to remain tight. The accuracy of the new unemployment measure is questioned, raising concerns for the Bank of England. UK businesses are pessimistic, leading to hiring freezes and staff cuts. The Bank of England Governor expresses concerns about wage growth being too high for the inflation target.