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Financial Times - BoE lifts rate and warns inflation target will not be reached until 2025

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The Financial Times leads with the Bank of England raising interest rates and the warning that it will not hit its inflation target until 2025.

In its Thursday update, the Bank said inflation is now not forecast to fall below the target of 2% until 2025 – but it reaffirmed its prediction that the UK will avoid a recession. The US accusing South Africa of covertly backing Russia’s war effort in Ukraine also features prominently.

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‘Devastated’ Phillip Schofield had ‘tense’ call with Holly Willoughby amid feud rumours

Rumours of their ‘dwindling relationship’ have emerged (Picture: Ken McKay/ITV/REX/Shutterstock)

A ‘devastated’ Phillip Schofield is said to have had a ‘tense’ phone call with Holly Willoughby as rumours of their ‘feud’ emerged.

Just days ago, reports revealed the This Morning hosts were ‘barely speaking’.

It was said that the Dancing On Ice presenters are not on good terms behind-the-scenes, amid a dwindling relationship.

Phil, 61, later released his own statement insisting that he’s still ‘best friends’ with Holly, 42.

He added: ‘The last few weeks haven’t been easy for either of us.’

It’s now been reported that as the rumours began to fly, in which it was said Holly would want to stay on This Morning without Phil if he were to leave, Phil rung his co-star.

A ‘devastated’ Phil is said to have rung Holly (Picture: Matt Frost/ITV/Shutterstock)

A source said: ‘Things have been difficult between them, but for it to play out so publicly was the last thing Phil was ever expecting.

‘He has spoken with Holly over the phone about how this all played out.’

The insider added to The Sun: ‘He’s devastated by it all and is incredibly upset.’

Recent weeks have seen Holly suffering from shingles, while the likes of Alison Hammond and Rochelle Humes were called in as a replacement.

Meanwhile, Joel Dommett took Phil’s seat when he was on leave from the show, as his brother Timothy Schofield was on trial in a sexual abuse case.

Phil insisted they were ‘best friends’ after rumours they were ‘barely speaking’ (Picture: Ken McKay/ITV/Shutterstock)

Schofield was found guilty of sexually abusing a teenage boy over a period of three years, having been charged with 11 sexual offences involving a child between October 2016 and October 2019 – including two of sexual activity with a child.

Following the guilty verdict, Phil issued a statement and said he ‘no longer’ has a brother.

At the time, a source told Mail Online: ‘Holly is loyal to Phil and she will always be there for him.’

‘And she will always be there for This Morning too. She sees it as her role to keep things going.’

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The pair’s reported behind-the-scenes feud comes after their scandal last year in which they were accused of ‘skipping’ the queue to see the Queen’s coffin lying in state.

They later addressed the backlash in a statement and stressed they had ‘respected’ the rules set for the media.

Metro.co.uk has approached Holly and Phil’s reps for comment.

This Morning airs weekdays from 10am on ITV1.

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MORE : Holly Willoughby and Phillip Schofield vanish from This Morning promo – after fans spot clue of feud on Twitter

MORE : Holly Willoughby ‘blindsided’ by Phillip Schofield’s public statement amid rumours of ‘dwindling friendship’

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