""There's no question the latest inflation data will spark some jitters. But one slightly hotter-than-expected reading should not knock the Bank off course. A cut next month is still warranted - and, frankly, necessary.""
""What we're seeing now is the bumpy endgame. The disinflationary trend remains intact, but it was never going to be perfectly smooth.""
UK headline inflation rose to 3.6% in June, exceeding expectations and remaining unchanged from the previous month. Core inflation increased to 3.7%. Despite this, the CEO of deVere Group, Nigel Green, advocates for the Bank of England to proceed with a rate cut next month, arguing that the current inflation rise does not justify delaying this action. He indicates that inflation is on a disinflationary trend and that holding rates too high could harm the economy, which is fragile and exhibiting signs of weakening in the labor market.
Read at London Business News | Londonlovesbusiness.com
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