freesexpoker| UK inflation cools less than expected Traders reduce central bank interest rate cut bet

UK inflation slowed less than expected last month and intensifiedfreesexpokerQuestions were raised about the timing of the Bank of England to start cutting interest rates.

The Office for National Statistics reported on Wednesday that CPI rose 2.5 percent year-on-year in Aprilfreesexpoker.3%, compared with 3% in MarchfreesexpokerThe.2% gain fell, but was above the 2.1% gain expected by the Bank of England and economists.

While inflation is currently at its lowest level since the summer of 2021, lingering signs of price pressure may make Bank of England Governor Andrew Bailey and his colleagues less willing to move quickly to cut interest rates.

Services inflation, which the Bank of England closely watches, is 5.9%, little change from 6% in March. The core price index, which excludes volatile food and energy costs, fell to 3.9% from 4.2%.

Given that UK inflation has slowed less than expected, traders have sharply cut their bets on the Bank of England to cut interest rates, and the market no longer expects the probability of two 25 basis points rate cuts this year. The market expects to cut interest rates by 39 basis points before the end of the year-equivalent to one rate cut, with the probability of a second rate cut at about 60%freesexpoker; and a 54 basis point rate cut is expected on Tuesday.