The latest data shows that inflation in the UK remained steady at 2.2% in August, just above the Bank of England’s 2% target. With air fares driving prices up but lower fuel costs balancing things out, all eyes are now on the Bank of England’s next rate decision.
After reducing interest rates by a quarter-point last month, the Bank is expected to hold off on further cuts at this week’s meeting. However, many economists predict that another rate cut could come in November, especially after the government’s upcoming budget announcement.
As central banks worldwide continue adjusting their policies in response to falling inflation, how will this affect your trading strategy? Stay ahead of the curve with TradeVance!
