63/65 economists expect Bank of England to cut interest rates in August, despite ongoing high pay and services inflation.
63 out of 65 economists polled by Reuters expect the Bank of England to cut interest rates in August, with most anticipating at least one more reduction this year despite ongoing high pay and services inflation. The BoE had previously raised rates to combat soaring price pressures, but inflation has since eased to 2.3% in April, close to the central bank's 2.0% target. However, wage and services inflation remain around 6%.
June 12, 2024
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