ECB’s Lagarde: ‘We’re breaking the neck of inflation’ after cutting interest rates – as it happened

Rolling coverage of the latest economic and financial news

Newsflash: Inflation across the eurozone fell by more than initially thought last month, which may cement the chances of interest rate cuts today.

Consumer prices across the euro area rose by 1.7% in the year to September, statistics body Eurostat reports, down from 2.2% in August.

The lowest annual rates were registered in Ireland (0.0%), Lithuania (0.4%), Slovenia and Italy (both 0.7%). The highest annual rates were recorded in Romania (4.8%), Belgium (4.3%) and Poland (4.2%).

Compared with August 2024, annual inflation fell in twenty Member States, remained stable in two and rose in five.

We have always said we won't be taking plans for HS2 phase 2 back off the shelf after the Conservatives took a wrecking ball to the project and allowed costs to spiral completely out of control.

But we are committed to delivering better rail connectivity across the north, as set out in our manifesto.

Transport is an essential part of the Government's mission to rebuild Britain and grow our economy."