September marks the first time inflation has been below the Bank of England's 2% target since April 2021.

Markets are currently pricing in a 25% chance of another cut tomorrow.

Industry experts predict there could still be at least one more rate cut this year.

UK CPI held steady at 2%, but the ongoing 'stickiness' of services inflation could give cause for concern at the Bank of England.

Inflation has returned to target for the first time in almost three years.

Core CPI remains elevated at 3.9%.

Pill said the MPC "needs to maintain restrictiveness in its monetary policy stance".

Inflation is down to its lowest in two and a half years, and well below the peak of 11.1% in October last year.

Inflation came in below economists' forecasts of 3.5%.

Economists had predicted a small rise.