NEWS Desk Global
UK PUBLIC'S INFLATION EXPECTATIONS FALL TO 3-YEAR LOW
The British public's expectations for inflation over the coming year dropped to their lowest in three years in August, a Bank of England survey showed on Friday, likely reassuring policymakers ahead of next week's interest rate decision.
When it cut interest rates from a 16-year high of 5.25% on Aug. 1, the BoE's Monetary Policy Committee said it expected recent falls in inflation expectations to lead to lower future wage demands and smaller price increases by businesses.
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