BOE's Bailey: Inflation has turned the corner

• Services inflation is tracking more or less as we thought in February
• Will adjust bank rate as necessary to return inflation sustainably to medium-term target
• If evidence of more persistent pressures, then further tightening in policy would be required

His remarks come ahead of the UK CPI data tomorrow, which is expected to show a notable decline in annual headline inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term. But just keep in mind that the April drop in the UK would be akin to the March drop in the Eurozone, which owes much to an adjustment in base effects after the big surge in energy prices last year.

Bailey is trying to sound confident here but much like what we are seeing in the euro area now, it is best not to get ahead of oneself.