High inflation in the UK has reduced the possibility of the Bank of England cutting interest rates in June.
Jin10 reported on May 21 that Patrick ODonnell, a senior investment strategist at Omnis Investments, stated in a report that the UK's inflation in April was stronger than expected, raising concerns about inflationary pressures and dropping the likelihood of a rate cut by the Central Bank of the UK in June. This data should raise doubts about whether a rate cut will occur in the subsequent meeting in August.