Bailey, as does Powell (he himself has said this) know CPI data before the data actually comes out. So ,if Bailey is stating that inflation has turned the corner it's probably true. We should be seeing a 2% drop tommorow as is expected due to the way inflation is calculated on Yearly basis. Inflation at 10% should be the past from tommorow. However, inflation is still way too high for BoE to even consider not raising rates anymore. Powell, on the other hand shouldn't be as worried as Bailey as inflation is lower in US.