KPMG: Interest Rates Could Drop to 3% by End of 2023 as Inflation Falls

• KPMG economists predict Bank of England will cut interest rates to 3% by end of 2023 as inflation falls sharply • Inflation expected to undershoot 2% target in coming months as energy bills decline • Keeping interest rates at current 5.25% risks harming economy, KPMG argues • UK economy forecast to recover slowly from recession with 0.3% growth this year and 0.9% next • Job vacancies showed signs of rebound in February after drops in previous months