Deputy Governor for Markets & Banking at the Bank of England, Dave Ramsden (pictured), conveyed his optimism in a speech on Friday, stating that he believes headline CPI inflation will experience a significant decline in April, reaching levels close to the targeted 2%.
"Given we know the level of the Ofgem (Office of Gas and Electricity Markets) price cap for April and also taking account of the freezing of fuel duties in the March Budget, then other things equal we can be confident headline CPI inflation will fall sharply in April, to close to the 2% target," Ramsden added at Peterson Institute of International Economics.
The latest annual inflation number in the country came in at 3.2% in March. The policymaker further stated that despite the possibility of a turbulent disinflation process on a monthly basis, there is evidence that the risks of sustained domestic inflation pressures are "receding."
