With inflation in the UK slowing by more than expected in June and the July PMIs revealing that UK business activity continues to weaken, investors have become increasingly convinced that the Bank of England may need to slow down the pace of its future hikes and return to 25bps increments. The Bank meets on Thursday at 11:00 GMT and it will be interesting to see whether this will be the case and how the overall outcome could affect the British pound.
Bankinter : Preliminary July PMIs disappoint as they fall more sharply than expected. - (i) Manufacturing PMI 42.4 vs 43.5 expected and 43.4 previous. (ii)