Rolling coverage of the latest economic and financial newsShould the Bank of England cut interest rates with Britain’s economy in bloom?Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.Britain’s central bank could inch closer to its first cut in interest rates since the start of the pandemic today.“With real wages returning to positive growth, the economy appears to be gaining momentum. That means the current dip in inflation we’re seeing is likely temporary, with a possible resurgence on the cards for the second half of the year.“By late summer, the Bank of England may have more evidence of easing underlying pressures. However, for now, I think it should communicate that its target is medium-term and, just as it looked through 10% headline inflation, it should also look through a short-term dip in inflation.”The market is expecting the first rate cut from the BOE between June and August. If the BOE does intend to cut rates next month, then we would expect to get a clear indication from the Bank on Thursday that this could happen.11am BST: Ireland’s inflation data for AprilNoon BST: Bank of England interest rate decision12.30pm BST: Bank of England press conference5.15pm BST: Virtual Q&A with Bank of England chief economist Huw Pill Continue reading...