Institution: The Bank of England may still cut interest rates in August.

Gate News bot message: Investec economist Sandra Horsfield stated that the Central Bank of the UK may still lower interest rates later this summer.

Data released on Wednesday showed that the overall inflation rate in the UK fell slightly last month, from 3.5% in April to 3.4%. However, Horsfield noted that the slowdown in service sector inflation was more pronounced, dropping from 5.4% to 4.7%, which is an encouraging sign for the policies of the Central Bank of the UK.

She told investors that although energy inflation may rise again amid the Middle East conflict, the option of lowering interest rates at the Central Bank's policy meeting in August still "firmly remains on the table."

Source: Jinshi