Inflation falls and yet again the boomers are winning

, and that’s good. It will come down further this summer, probably to the Bank of England target of 2 per cent. That will certainly lead to a cut in interest rates, as the Bank Governor, Andrew Bailey, confirmed on Wednesday.to come down by much. That will be a relief for savers, and particularly for elderly people who rely on those savings to bump up their pensions. But relatively high interest rates will be a continuing burden for the young trying toTo many people, this will seem unfair.

“If higher inflation does persist,” he continued, “we can maintain the current level of interest rates for as long as needed.” But it would be a worry nonetheless, for two main reasons. One is that while the country as a whole seems to be coping, there will be many people and smaller businesses that are just about hanging on, and do desperately need rate cuts fast.

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