LONDON (Reuters) – The British public’s expectations for inflation have fallen, the Bank of England said in a survey it published on Friday ahead of its decision next week on whether to raise interest rates for the 11th meeting in a row.
Expectations for inflation over the coming year time dropped to 3.9% from 4.8% in November while those for inflation in the following 12 months – which are closely watched by the BoE – fell to 3.0% from 3.4%.
Expectations for inflation in five years’ time fell to 3.0% from 3.3% in November.
(Reporting by William Schomberg; editing by William James)