UK Services Inflation Ebbs Sharply In Good News For BoE

The Bank of England will cut rates twice more this year, according to traders, who on Wednesday upped wagers on the amount of additional easing expected from the bank after an encouraging inflation report out of the UK. Headline price growth was 2.2% last month, ONS said. That was up from the prior month's 12-month rate but remember: The headline YoY pace is expected to drift higher through Q1 of next year before receding back to, and eventually below, target. Consensus was looking for 2.3% fr