Springall expressed particular concern for savers: “Since the start of this year, more than two thirds (70%) of savings providers have cut their rates. Any delay in further interest rate cuts by the Bank of England is irrelevant, as there has already been irreversible damage done to the savings market over the last 12 months.”

The EUR/GBP cross gains momentum near 0.8745 during the early European trading hours on Thursday. The Pound Sterling (GBP) weakens against the Euro (EUR) amid weak economic data from the United Kingdom (UK).

The U.K. inflation rate cooled to 3% in January, according to the latest figures from the Office for National Statistics (ONS).

The ONS described the drop as “marked,” noting that it brought inflation to its lowest level since March 2025, News.Az

What will upcoming inflation figures mean for interest rates in the UK? - Most experts predict inflation fell back sharply to 3% in January from 3.4% in December.

Feb 18 (Reuters) - The UK's FTSE 100 touched a fresh peak on Wednesday as domestic inflation cooled last month, strengthening expectations of an interest rate cut as soon as March, while defence stocks drew comfort from BAE Systems' strong results.

British Pound US Dollar, US Dollar British Pound, GoldBlocks US Dollar. Read 's Market Analysis on Investing.com UK.

Most groceries continue to be more expensive than a year ago, though prices are not rising as fast as they were.

LONDON, Feb 18 (Reuters) - The John Lewis Partnership, Britain's largest employee‑owned business, on Wednesday became the latest major retailer to lift store staff pay by more than inflation, following similar moves from Sainsbury's,