UK Inflation Hits Bank of England's 2% Target, Boosting Hopes of Interest Rate Cut
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#79a8b667 ver:0.22

UK inflation hits Bank of England's 2% target for the first time in 3 years, boosting hopes of an interest rate cut. Services inflation also decreased. Bank of England Governor Andrew Bailey indicates rate cuts may be needed. Traders expect rate cuts in August. UK economy experienced a halt in recovery in April. Laura Foll warns against following the Federal Reserve in setting interest rates. Goldman Sachs and BNP Paribas expect rate cuts in August. Bank of England Governor Bailey acknowledges slow rate-cutting cycle. Lower inflation is positive news for households. Possibility of rate cut in August or September. Rising oil costs and US demand are factors to consider. #UKinflation #interestrates #economy...

#newstr #BankOfEngland #Inflation #InterestRates #UkEconomy #RishiSunak 

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