BoE boss: Inflation expected to fall sharply in near future

The governor of the Bank of England has said although inflation remains "higher than expected", there is still reason for optimism ahead of April figures being released next week. Andrew Bailey told the British Chambers of Commerce annual global conference: "We do, however, have good reasons to expect inflation to fall sharply over the coming months … energy prices have fallen from their peaks, and that will now start to come through as lower inflation.".