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fxJul 22, 2026, 12:57 PM

UK Core CPI Resilience Complicates BoE Path – Nomura

Nomura strategists note that UK headline CPI fell to 2.6% as expected, but core and services inflation remain elevated, complicating the Bank of England's policy path.

GBPUSD

Nomura strategists analyzed the latest UK June inflation data. Headline CPI declined to 2.6%, matching the Bank of England's expectation. However, core and services inflation remained stubbornly high, adding uncertainty to the BoE's future rate decisions.

The persistence of underlying price pressures suggests the central bank may need to maintain a tighter stance for longer, complicating the outlook for monetary policy.

Source: FXStreet Forex News