Bank of England: Budget will cause inflation to rise but not to 2022 levels

Bank of England governor Andrew Bailey has admitted that inflation is still likely to rise following the budget however its not expected to hit the high levels of 2022. It comes after the base rate was cut to 4.75% - the lowest level in more than a year. It will will make the cost of borrowing cheaper in the UK, however, it will also lessen returns on savings. Read more here: https://news.sky.com/money #skynews #economy #uk SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales