Bank of England Governor Andrew Bailey warns it is unlikely inflation will return to target without interest rate rises running the risk of it becoming engrained in the economy. <br /> <br />The Bank of England raised the base rate from 0.25% to 0.5% shortly after a 54% energy price cap increase to around £1,971 in April was confirmed. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
