UK inflation unexpectedly cools to 2.5%, core price print slows further

Bank of England policymakers are currently divided on the possibility of interest-rate cuts, with Governor Andrew Bailey facing the challenge of steering his colleagues in the coming weeks. This division comes after the hiking cycle was brought to a close last year, indicating a shift in policy direction. Commuters were seen crossing a junction near the BOE in the City of London, UK, on Wednesday, May 8, 2024, highlighting the economic uncertainty that surrounds these decisions.

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