In June, UK inflation remained at the Bank of England's 2% target, raising the possibility of a rate cut.

UK inflation stayed at the Bank of England's 2% target in June, potentially keeping a rate cut in consideration. This marks the second consecutive month of steady inflation after rising due to supply chain issues and the Russia-Ukraine conflict. Bank of England officials remain concerned about ongoing inflationary pressures in the labour market and services sector.

July 17, 2024
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