Inflation falls to 2.3% in April - lowest level since July 2021
That we will need to cut back crate over the coming quarters, but that judgment is one for the future. It really depends on how the data evolve and how that evolution effects our assessment that the risks from inflation persistence are receding. We have no preconceptions about how fast and how far we might Cut Bank Rate. Instead, we will continue to look carefully for evidence that the outlook for inflation is consistent with the 2% target given the decisions we've already made.