Jonathan Cook
on July 17th, 2025 Headline inflation reaching an 18-month high in June was undoubtedly a setback for the UK economy. However, with growth stalling and the labour market buckling, there may be enough in the numbers to convince the bank it still needs to cut at its August meeting. Cutting rates after three months of disappointing inflation data would be a bold move, but these are the tough decisions policymakers have to make.
GBP/USD: the past year
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