Reported about 8 hours ago
Major Wall Street brokerages have retracted their predictions for a September interest rate cut by the Bank of England due to persistent inflation and a resilient labor market. Recent data showed that the UK's annual consumer price inflation rose unexpectedly to 3.6% in June, prompting firms like BofA, Citigroup, Morgan Stanley, and Goldman Sachs to adjust their forecasts. Despite a slight cooling in the labor market, policymakers believe the data does not support immediate rate cuts, though some firms are still predicting reductions later in the year.
Source: YAHOO