AXA: Bank of England likely to cut rates in August and November

Gabriella Dickens, an economist at AXA Investment Management, said in a report that the Bank of England may cut interest rates in August and November as UK inflation and labor market data continue to slow. AXA said that as the reduction in the UK energy price cap is expected to be smaller than the reduction a year ago, the UK's overall inflation rate in June may remain around 2%, and then rise slightly in July. "In the second half of this year, as the core consumer price index inflation rate remains negative and the food consumer price index inflation rate further declines, the overall inflation rate may not be higher than around 2.5%." (Jinshi)