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Bank chief Andrew Bailey: 'We think inflation will fall rapidly'

Bank of England Governor Andrew Bailey has said inflation should come down rapidly, partly as a result of lower energy prices.

But speaking to the BBC's Faisal Islam, he warned that there were still risks that could affect the economy.

2 February 2023

Bank of England

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Angela Rayner at the dispatch box in the Commons at PMQs

PMQs: Deputies clash over latest inflation figures

Reeves speaking

Chancellor says Budget will raise taxes by £40bn

Rishi Sunak wearing a blue suit and a grey tie, standing in the Commons

Sunak on Budget: Broken promise after broken promise

Rachel Reeves

Budget choices are not easy but responsible - Reeves

Head and shoulders picture of Rachel Reeves

'We must change the way we measure debt' - Reeves

Jeremy Hunt

Reeves 'trying to hoodwink' voters over tax and spending - Jeremy Hunt

Baby Ummi at an MSF clinic

‘They cry of hunger once they notice there’s no milk’

Adrian Ramsay

Greens tax plans 'fairly normal' by European standards - Ramsay

Henry Zeffman

Henry Zeffman: Will falling inflation change minds on the campaign trail?

Sir Keir Starmer and Nick Robinson

UK can do better than Johnson's 'botched' post-Brexit trade deal - Starmer

Rachel Reeves

Reeves: Tory manifesto 'wish list of unfunded promises'

Sir Keir Starmer

Starmer: No quick fix to the mess the Tories have made

Rachel Reeves

Reeves says Lawson was right on National Insurance

Rishi Sunak

Sunak: Our plan is working, delivering brighter Britain

King Charles looking at the new bank note

King Charles sees new banknotes with his image on

Rishi Sunak speaking

PM questioned on 'bounce back' despite rising prices

Rishi Sunak

PM says new inflation figures show his plan is working

Sir Keir Starmer

Government growth plan ‘relies on migration’ - Starmer

Rishi Sunak

PM has 'long-term ambition' to abolish national insurance

Dame Eleanor Lang

Watch: Noisy MPs interrupt Chancellor's Budget delivery

Rachel Reeves

Watch: Reeves 'deeply proud' to be first female chancellor

The Chancellor has presented her first Budget in the Commons.

Twins James and John Makanjuola,

The twins cleaning London's unloved spaces

Entrepreneurs James and John run a cleaning firm, but take it to the next level in their spare time.

Paula Vennells at the Post Office inquiry

Key moments from former Post Office chief's three-day testimony

Paula Vennells faced three days of questions about her role in the wrongful prosecution of hundreds of sub-postmasters.

Paula Vennells reaching for a tissue in the Post Office inqiuiry

Ex-Post Office boss cries while giving evidence

Ex-Post Office boss Paula Vennells is speaking about the incident for the first time in ten years.

Santiago Paredes

Whistleblower claims Boeing supplier sent faulty parts

Spirit AeroSystems supplied Boeing with faulty parts, a former quality inspector has told the BBC.

Tatti Lashes

Tatti Lashes: The school friends who built a beauty empire

Charlotte Tiplady and Elliot Barton explain how together they built up their Tatti Lashes beauty empire from Liverpool.

Ocado has added robotic arms to its newest warehouse near Luton.

Watch Ocado robots in action

Ocado has added robotic arms to its newest warehouse near Luton.

Business Headlines

BBC World News business headlines

The latest international business headlines from BBC World News.

Jo Hamilton

'I feel survivor's guilt' says Post Office victim

Former sub-postmaster Jo Hamilton told BBC Breakfast she feels "guilt" after settling with the government over the Horizon IT scandal.

Woman in sunglasses smiling while answering questions related to the Budget

Watch: 'My biggest financial regret is...'

People in Kent share their finance stories ahead of Wednesday's Budget. Would you share yours?

Mohsin Issa

Issa brother to step back after 'fixing' Asda

Mohsin Issa, one half of the so-called "billionaire brothers" who own Asda, says he plans to hand over the running of the UK's third biggest supermarket.

Robots

'We had to adapt our robots to the AI revolution'

Sandy Enoch of Robotical explains why he had to pivot his educational robot company due to AI.

Picsart

'AI won't steal your job, but people using it may'

Hovhannes Avoyan, founder of picture and video editing app Picsart, shares his advice for our CEO Secrets series.

Picture of The Body Shop storefront in the 80s

'They thought it was a sex shop' - The Body Shop in the '80s

Archive footage shows Dame Anita Roddick talking about her company's success, in an 1984 interview.

Raid on Co-op store

CCTV shows violent raid on Co-op store

The retailer gave the footage to the BBC as it warned of a rise in attacks on retail staff.

Sir Howard Davies

Not that difficult to buy a home, says NatWest chair

Sir Howard Davies says he believes it is not currently "that difficult" for people to get on the housing ladder.

Joanna Jensen

'A viral Facebook post nearly blew up our business'

Joanna Jensen, founder of skincare brand Childs Farm, shares advice for start-ups for our CEO Secrets series.

Ofcom chief executive Dame Melanie Dawes

Broadband rises must be 'clearer', says Ofcom boss

The regulator has plans to make mobile and broadband firms more upfront about mid-contract price rises.

Earring

'This earring helped me build my £4bn business'

Richard Harpin, co-founder of Homeserve, explains how an earring taught him an early business lesson.

Olivia DeRamus and BBC reporter Lora Jones

'Taking control of my abuse story'

Olivia DeRamus set up an app in the wake of her sexual assault. Now she's ready to take on Big Tech.