The Guardian 04/Apr/2023 The Bank of England may need to cut interest rates earlier and faster as the impact from previous increases drags down the economy and pulls back inflation, one of its senior policymakers has said.

UK inflation unexpectedly increased to 10.4% in February, reversing three months of gradual declines from a peak of 11.1% in October – the highest level since the early 1980s. The Bank’s official target for inflation is 2%.