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UK hits 2 percent inflation target – POLITICO

The cost of services, a key indicator closely monitored by the Bank of England, however slightly exceeded analysts’ expectations, coming in at 5.7% for the year, compared to a market forecast of 5.5%.

The Bank’s Monetary Policy Committee will meet on Thursday and, due to the proximity of the upcoming elections, is almost certain to keep rates unchanged at 5.25 percent so as not to influence the political outcome.

The upheaval caused by the pandemic has pushed inflation to its highest level in decades, peaking at 11.1% in October 2022. It has been above the Bank’s 2% target for more than three years now.

The state of the British economy is a central issue for the Conservative and Labor parties in the run-up to the July 4 election.

This latest figure paves the way for a rate cut by the Monetary Policy Committee in August.

If the polls are correct, Labor will be number 10.

Politico

Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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