Last week the Bank of England surprised markets by lifting interest rates by 0.5% (0.25% was expected) – its 13th consecutive hike. The UK central bank said they would lift rates higher if inflation pressure continued. This followed the release of UK inflation data earlier in the week which showed CPI at 8.7% in May which was unchanged from April and higher than market expectations.
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https://realmim.com/markets-anticipating-falling-inflation-in-the-us-but-slowing-economy-too/
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