UK Inflation Tops Forecasts, Casting Doubt on BoE Rate Cut Timeline; GBP/USD Spikes

Hotter-than-expected UK inflation data and solid GDP growth reignited debate over the BoE’s rate path on Wednesday, May 21.
The UK’s annual inflation rate (headline) accelerated from 2.6% in March to 3.5% in April, above a consensus of 3.3%
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