Bank of England interest rate-setter Catherine Mann welcomed a recent fall in inflation in Britain but said the cooling of price growth still had "a long way to go" for the central bank to hit its 2% inflation target over the medium term.

Inflation is expected to have fallen back below the Bank of England’s 2 per cent target when figures covering the year to September are revealed on Wednesday.

Rolling coverage of the latest economic and financial news, as governor Andrew Bailey says disinflation is happening faster than expected

Bank of England Governor Andrew Bailey said disinflation in the UK is happening faster than officials had anticipated, the latest hint that the central bank will continue cutting interest rates next month.