Rise in UK services inflation curbs bets on BoE rate cut
CPI flat overall, but economists say uptick in core and services numbers likely to make policy-makers pause
Economists have said the UK’s central bank is likely to hold its policy rate after data released today (September 18) showed core and services inflation had risen in August.
Headline consumer price index (CPI) inflation held steady at 2.2%, as analysts had widely expected. However, core CPI inflation rose to 3.6%, from 3.3% in July. Services inflation, closely watched as an indicator of wage pressures, rose from 5.2% to 5.6%.
Earlier this week, some investors had been betting that the Bank of
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