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UK inflation held steady at 2 per cent in June, as the Bank of England considers whether to cut interest rates from their current 16-year high next month.
Wednesday’s annual consumer price data was above analysts’ forecasts of 1.9 per cent and remained at the BoE’s target level, which it hit in May.
It was the last such release before the Monetary Policy Committee’s August 1 rates announcement. The MPC is due to decide whether to cut interest rates from their current 5.25 per cent, with some members expected to call for a quarter-point reduction.
This is a developing story
