The Bank of England is expected to maintain its current interest rates despite the recent rate cut by the U.S. Federal Reserve, marking the first cut in over four years. The decision is anticipated due to concerns over inflation, particularly in the services sector, which plays a significant role in the British economy.
Recent data revealed that the UK's inflation rate held steady at 2.2% in August, with varying price movements in sectors such as airfares, fuel costs, and hospitality expenses. This slight increase keeps inflation slightly above the Bank of England's target of 2% for the second consecutive month.
