BoE increasing interest rates to curb inflation (which is at a once in a lifetime high driven by a perfect storm of post covid market dynamics/the Ukraine war etc) is really like moving the deckchairs around on the Titanic. It just won't work at all IMV and it needs for wholesale energy costs to really move back to see inflation do likewise.

I expect, and hope, to see BoE base rates moving back later this year or, at worst, early '24.

And a bit of good news from the IMF today as well;

https://www.bbc.co.uk/news/business-65669399