Analyst: UK inflation higher than expected, lower interest rate cut possibility in August.

Jin10 Data, July 16 – Forexlive analyst Giuseppe Dellamotta commented on the UK’s June CPI data, stating that before the data was released, the market expected the Bank of England to cut interest rates by 53 basis points by the end of the year. The June inflation data was significantly higher than expected, with the highest core inflation forecast at 3.6% (actual was 3.7%). In terms of market pricing, the likelihood of a rate cut in August may be small, but the basic situation remains two rate cuts by the end of the year, so there is still a possibility of rate cuts in the three meetings following the August meeting.