Traders cut Bank of England rate cut bets, favoring just one more rate cut this year

Financial website Forexlive analyst: After the release of the UK CPI, the current market pricing shows that the rate cut for the rest of 2025 is 34 basis points, while the expectation before the release of the UK CPI is 41 basis points. The market fully priced in November to cut interest rates. In my opinion, this is still a bit high. I expect the Bank of England and other major central banks to face a tougher repricing in the coming weeks and months. (Jin Ten)