Sliding inflation to stall interest rate rises

Interest rate rises in Europe could be off the table for many months as inflation is sliding rapidly and economic growth is weakening, removing pressure on central bankers to tighten monetary policy. The Bank of England is no longer expected to raise its base rate from 0.5 per cent to 0.75 per cent, with markets anticipating a pause until August or November, and the National Institute of Economic and Social Research cutting its UK growth forecast to 1.5 per cent for 2018.

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