Gate.io: If data shows the UK economy is slowing down, it may accelerate the pace of interest rate cuts

On October 11th, Jinshi data, James Smith, an economist at the Dutch International Group, believes that the UK economy recovered in August, but after the strong rise earlier in 2024, the rise rate is slowing down. He said that economic activity rose by 0.2% in August, but this came after two months of stagnation, and the situation of 0.7% and 0.5% rise in the first two quarters of this year will not be repeated in the second half of the year. This indicates that the Central Bank of England has reason to be skeptical of the strong rise data in the first half of the year and to avoid raising the rise forecast for the coming years. Smith said that the service industry inflation data in September will be very important, and if it is lower than the expectations of the Central Bank of England, it may accelerate policy easing.