The possibility of further Bank of England easing in 2025 faded further last week, as July inflation data surprised again to the upside and the PMIs of business activity showed hints of a reacceleration.
The price data must have been particularly unwelcome news, as the upward trend is now undeniable, and sticky services inflation is rising at a 5% rate.
While sentiment data such as the PMIs have improved, harder data continues to paint a stagflationary picture, with inflation stuck significantly above the central bank target and the jobs market continuing to deteriorate.
We think that the MPC will have no choice but to prioritise the latter, and we are not currently expecting any more cuts in the base rate at all during the rest of 2025.
作者：Matthew Ryan, CFA，文章来源FXStreet，版权归原作者所有，如有侵权请联系本人删除。
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
加载失败()