Bank of England’s Bailey sees inflation near 2% target by May

Bank of England’s Bailey sees inflation near 2% target by May

LONDON, Dec 18 (Reuters) – British inflation looks on course to return to close to its 2% target by April or May next year, about a year earlier than previously expected, Bank ‍of England Governor Andrew Bailey said on Thursday after the central bank cut interest rates to 3.75%. In an interview with broadcasters, Bailey said he was “very encouraged” by how far inflation had fallen since the middle of the year when it reached a peak of 3.8%. Offi…