UK Inflation Predicted to Fall, BOE Holds Interest Rates Unchanged

UK inflation is predicted to fall in line with the rest of the world, driven by a drop in energy bills. The Bank of England has kept interest rates unchanged at a 15-year high, stating that it is too early to consider cuts. The unemployment measure has been changed, raising concerns for policy makers. UK businesses are becoming more pessimistic, leading to hiring freezes and staff cuts. Bank of England Governor Andrew Bailey expresses concerns about high wage growth.