MHA analyst Joe Nellis says May annual inflation was unchanged at 2.8% YoY, below market expectations, making the Bank of England all but certain to hold rates at Thursday’s meeting. Nellis added that if the Middle East remains calm the BoE may not n

2026-06-17

MHA analyst Joe Nellis says May annual inflation was unchanged at 2.8% YoY, below market expectations, making the Bank of England all but certain to hold rates at Thursday’s meeting. Nellis added that if the Middle East remains calm the BoE may not need to hike this year and inflation could stay below 4%, though inflation could still rise modestly in coming months even if tensions ease quickly.