Inflation figures to dip below Bank's target

The Bank of England is likely to signal it is prepared for yet more money-printing, after its £50bn move last week, when it publishes its inflation report on Wednesday.

The Bank's quarterly forecasts are likely to show inflation below its 2 per cent target in two years' time, signalling the need for more stimulus through quantitative easing. The Bank has created £325bn in electronic cash so far and economists predict rate-setters could print another £25bn in May.