UK Inflation Uptick Clouds Boe Outlook, GBP/USD Eyes $ 1.35 Breakout

Last Week’s Labor Market and Gdp Data Followed The Bank of England’s 25 Basis Point Rate Cut to 4%. However, A 5-4 Vote in Favor of Cutting Rates Underscored the Monetary Policy Committee’s Divideed Stance on Inflation and the Labor Market.

Today’s Inflation Figures Reduce of the Likelihood of Another Cut in September, But Economists Still Anticipate One Additional Reduction in 2025. Ing Economics Discounted The Latest GDP:

“We Dobt The Bank Will Take Too Much Inference from The Stronger Second Quarter Growth Performance. At the Very Mot ON.

Looking Ahead, Ing Economics Adeded:

“We Certainly Expert The GDP Figures in the Second Half of the Year to have a weaker Flavour to them. The Jobs Market is Under Pressure;

WHETHER The BOE WILL EASE RATES IN NOVEMBER OR December Will Hinge On the Next Round of Cpi and Labor Market Data. For Now, The July Data Gives The Hawks A Stronger Voice.

GBP/USD VALATY POST-INFLATION DATA Ahead of the Inflation Report, The GBP/USD Briefly Climbed to a High of $ 1.34927 Before Falling to a Low of $ 1.34616. Following The Report, The Pair Briefly Slid to a Low of $ 1.34757 Before Surging to A High of $ 1.34980.

On Wednesday, August 20, The GBP/USD WAS UP 0.01% to $ 1.34907, Reflection Reduced Market Bets on a September Boe Rate Cut.