The Bank of England is expected to hold interest rates at the current level despite inflation dropping to 2 per cent, signaling cautiousness after earlier increases to tackle inflation.
The Consumer Prices Index falling to 2 per cent may prompt the Bank of England to reconsider interest rates, with differing views from experts at the Resolution Foundation and the Confederation of British Industry.
The Resolution Foundation believes the recent inflation data will make the Bank of England rethink its position, while the CBI anticipates a potential interest rate cut in August.
CBI principal economist Martin Sartorius noted the possibility of a rate cut in August following the latest inflation figures, aligning with their forecast.
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