Dip in UK inflation offers respite for Reeves and paves way for interest rate cut
by Heather Stewart Economics editor from Economics | The Guardian on (#6TJTH)
Unexpected fall last month will help ease Treasury and Bank of England fears after bond market sell-off
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- Fall in UK inflation to 2.5% eases pressure on Reeves
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Rachel Reeves was being written off in some headlines as a lame duck" chancellor earlier this week, after a savage bond sell-off put her at risk of breaking her fiscal rules.
The shadow chancellor, Mel Stride, had even compared Reeves's situation - somewhat bafflingly - to Hamlet, Shakespeare's tragic prince, while the Tory leader, Kemi Badenoch, claimed Labour had chosen a chancellor who wasn't qualified to do the job".
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