Capital Economics said this was still too high for the Bank of England’s liking, adding that headline CPI is likely to rise to 2.9% in November due to higher utility prices before it falls back towards 2% in mid-2025. The Bank of England cut its base rate for the first time in the cycle last month, with no change from 5% likely at this week’s monetary policy meeting. “We continue to assume the next 0.25% interest rate cut will take place in November and that rates will be cut at alternative BoE meetings until June.”
The Trump administration is expected to send dozens of letters to countries that have not made a trade deal, warning them that higher tariffs could kick in next month....