Just as the sun gave way to buckets of rain in the City of London, predictions of fast-paced interest rate cuts for the rest of the year have given way to expectations of a slower tempo, following today’s jump in inflation to 3.5%. With service inflation particularly sticky, to quote Deutsche Bank’s Sanjay Raja, it “will almost certainly be the death knell for a June rate cut.”
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Allegra Stratton: Have the UK’s Wealthy Gone Concerningly Quiet?
