AXA: BoE may cut rates in August and November

The Bank of England could cut interest rates in August and November as U.K. inflation and labor market data continue to slow, Gabriella Dickens, an investment management economist at AXA, said in a report. AXA said that with the UK's energy price cap expected to fall less than it did a year ago, headline inflation in the UK is likely to remain around 2% in June before edging higher in July, and that "in the second half of the year, with core Consumer Goods Price Index (CPI) inflation remaining negative and Consumer Price Index for Food (CPIF) inflation declining further, headline inflation is likely to be no higher than around 2.5%."