Hotter UK inflation chills BoE June rate cut prospects - base case cut August ...Middle East

The UK inflation data is here:UK April CPI +2.3% vs +2.1% y/y expectedSterling gains as UK inflation slows by less than anticipatedTraders move to pare back BOE rate cuts odds after UK CPI reportING says that while the inflation data is "not a BoE gamechanger", the prospect of a June rate cut is reduced. the Bank of England will look at the numbers and see more noise than signalBut we think it does reduce the chances of a rate cut at June’s meeting, even though we’ll get another set of data before that decision. We certainly wouldn’t rule it out though. The Bank is visibly divided and with very few media appearances by the internal committee members, it’s frankly impossible to know how the

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