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Evening Standard
Evening Standard
Business
Daniel O'Boyle

Influential survey offers hope Bank of England may cut interest rates in August

Bank of England Interest Rates Inflation

Tentative signs emerged today that the Bank of England could be ready to cut interest rates in August, as an influential business survey suggested that the service sector may finally be cooling down.

The S&P Global Flash United Kingdom PMI survey for May showed that prices charged inflation fell to its lowest level since February 2021. The decline was mostly driven by slow services inflation, as businesses aimed to undercut rivals on price.

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