Maike Currie, vice president of personal finance at PensionBee, said: “The IMF may be more optimistic on UK inflation, but geopolitics remains the biggest wildcard.
“Recent falls in oil prices have improved the outlook, yet renewed escalations show just how quickly the picture can change.
“The Bank of England isn’t just watching energy prices but also how quickly higher costs feed into wider inflation through business pricing and inflation expectations.
“With households and businesses still sensitive after several years of elevated inflation, policymakers are likely to remain cautious about the future path of interest rates.”
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