Bank of England Urged to Cut Interest Rates as Recession Looms on Nostr: UK Inflation Hits Bank of England's 2% Target, Boosting Hopes of Interest Rate Cut ...

UK Inflation Hits Bank of England's 2% Target, Boosting Hopes of Interest Rate Cut
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#79a8b667 ver:0.23

UK inflation hits Bank of England's 2% target for the first time in three years, boosting hopes of an interest rate cut. Inflation dropped to 2% in May, down from 2.3% in April, in line with expectations. While interest rates are not expected to be cut at the next meeting, the data increases hopes of a reduction in borrowing costs in August. However, some argue that people are still worse off despite the drop in inflation. The Bank of England may take a slow and cautious approach to rate cuts as the UK economy recovers from the pandemic. #UKinflation #interestrates #BankofEngland...

#newstr #UkInflation #BankOfEngland #InterestRates #GeneralElection #ConservativeParty

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