Interest rates won't fall due to 4% inflation

The Bank of England's governor has said UK inflation remaining unchanged is "encouraging", but he hinted it would not mean earlier interest rate cuts.

January saw the first monthly fall in food prices in more than two years, but the cost of a weekly shop remains much higher than two years ago.

The Bank's governor said he did not believe the figure "changes the picture" on interest rates, adding that the differences were "pretty small numbers".

Investors have since increased bets that interest rates will fall in June

You can read more on this on the Bank of England website here.