UK CPI held at 2.8% year-on-year in May, missing the 3.0% consensus and leaving the BoE with little cover for a rate hike tomorrow. Watch the vote split in the June minutes: 8-1 keeps summer cuts alive, 7-2 puts August firmly in play.
UK consumer price inflation held steady at 2.8% in May according to the Office for National Statistics, arriving one day before the Bank of England's policy decision where rates are expected to remain on hold. Source
