Interest rates set by the Bank of England should continue to fall as inflation is likely to settle around the central bank's 2% target soon, BoE policymaker Alan Taylor said on Wednesday.

Inflation held steady in December, continuing to prove stubborn just days after reports of a Department of Justice probe into Federal Reserve Chair Jerome Powell.

Prices rose 2.7% in December from a year ago, a sign that inflation continues rising but in line with the pace seen in recent months.

Grocery prices saw their biggest one-month increase in three years in December but price drops in other categories, including gasoline, helped offset the jump in food costs as U.S. inflation held steady in the final month of 2025.

Mortgage rates saw significant improvements in 2025, but will that continue this month? Here's what to know now.

Interest rates are likely to edge lower in 2026 as the Fed weighs inflation, jobs and political pressure. See what forecasts suggest for the year ahead.

Gold climbed on Wednesday to hit a record, while silver breached the $90 mark for the first time, as softer-than-expected U.S. inflation readings cemented bets for interest rate cuts amid ongoing geopolitical uncertainty.

On Tuesday, President Trump spoke to the Detroit Economic Club and posted a social media message calling on Iranians to keep protesting. CBS News' Erica Brown reports.