Inflation in Britain held steady in June at 2 percent from a year earlier, in line with the central bank's target. The data on wage growth expected on Thursday will be closely watched by investors, with bets on a rate cut in August.
Central banks globally are considering rate cuts, amid signs of easing inflation crisis. Bank of England's interest rates have been unchanged for nearly a year, but pressure for a cut rises as inflation slows.
Despite the drop in headline inflation, inflation in the services sector remains high, and wage growth strong. Policymakers at Bank of England are hesitant to cut rates prematurely over concerns of sustainable low inflation.
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