UK services inflation will still be worrying Bank of England, strategist says

A Bank of England rate cut in August is not guaranteed, according to Jane Foley, head of FX strategy at a major financial institution. Foley believes that despite market expectations, the decision to cut rates is not set in stone. This perspective provides a different view from the prevailing consensus on a potential rate cut. As the situation unfolds, it will be interesting to see how the Bank of England responds to economic conditions and whether it opts for a rate cut or maintains the current policy.