Inflation (CPI) has fallen to 0.5% in December, the joint lowest level ever.
Mark Carney, Governor of The Bank of England, has to write to the Chancellor to explain why the 2% inflation target has been missed, ie why we are in a protracted period of deflation.
As I have noted many times before on this site, there is no way interest rates will be raised anytime soon (despite what the so called economic "experts" and analysts have been warning about for the last few months).
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