that's what i asked jackie bowie, head of europe at chatham financial. mean, the slight rise that you've seen, as you see, was predicted. and much of that has come just from what we call the base effect. so there's been upward pressure in household energy bills, very much influenced by the ofcom price cap we have here in the uk. so as we look at those year on year numbers, you just get this kind of what looks like a bit of an oddity, but it was fully priced in and really what the market was expecting in terms of where that would come out for the inflation number. so in terms of other things that the market is expecting, we've already had one cut in the cost of borrowing this year. that was the first since the recent inflationary crisis pushed up the cost of borrowing. some are saying this could lead the bank of england, or prompt the bank of england to cut rates again in september. what are your thoughts? what are your expectations? yeah, well, the market is still pricing in two further interest rate cuts this year, with one in september and then one bef

joining me now is jackie bowie — head of europe at chatham financial. thank you forjoining us.t is a rise in inflation but not by as much as some had expected. is it cause for alarm? as some had expected. is it cause foralarm? it as some had expected. is it cause for alarm?— for alarm? it doesn't seem to be. this low price _ for alarm? it doesn't seem to be. this low price you _ for alarm? it doesn't seem to be. this low price you have _ for alarm? it doesn't seem to be. this low price you have seen - for alarm? it doesn't seem to be. this low price you have seen was| this low price you have seen was predicted and much of that has come from what we call the base effect. there has been upward pressure in household energy bills very much influenced by ofcom price caps, so as we look as those year on year numbers, you get what looks like a bit of an oddity but it was fully priced in and really what the market was expecting in terms of where that would come out for the inflation number. in would come out for the inflation number. , ., ., , number. in terms of other things the marke

that's what i asked jackie bowie, head of europe at chatham financial.rise that you've seen, as you see, was predicted. and much of that has come just from what we call the base effect. so there's been upward pressure in household energy bills, very much influenced by the ofcom price cap we have here in the uk. so as we look at those year on year numbers, you just get this kind of what looks like a bit of an oddity, but it was fully priced in and really what the market was expecting in terms of where that would come out for the inflation number. so in terms of other things that the market is expecting, we've already had one cut in the cost of borrowing this year. that was the first since the recent inflationary crisis pushed up the cost of borrowing. some are saying this could lead the bank of england, or prompt the bank of england to cut rates again in september. what are your thoughts? what are your expectations? yeah, well, the market is still pricing in two further interest rate cuts this year, with one in september and then one before we get to the

joining me now is jackie bowie — head of europe at chatham financial. thank you forjoining us.alarm? as some had expected. is it cause foralarm? it as some had expected. is it cause for alarm?— for alarm? it doesn't seem to be. this low price _ for alarm? it doesn't seem to be. this low price you _ for alarm? it doesn't seem to be. this low price you have _ for alarm? it doesn't seem to be. this low price you have seen - for alarm? it doesn't seem to be. this low price you have seen was| this low price you have seen was predicted and much of that has come from what we

let's bring in chatham financial managing partner jackie bowie on what to expect from this boe.o with a cut? jackie: it certainly feels like the market is pricing that. but interestingly, there is still a 40% chance based on other market indicators that they stick with a hold. i think what we are seeing through the inflation data is that there are not clear signals that inflation has been beaten. i think everyone is using the knife edge. it really is the most finally balanced decision -- finely balanced decision the bank of england. . has had this year it really feels like they could surprise the majority and stick with interest rates at 5.25. and following the lead we got from the fed last night. tom: we are going to get an update on forecast. we are going to get a lot of data from this bank of england after this decision. on the inflation part of that story, what are the risks in terms of the upside risks to inflation? what would get inflation to come back again? i mean, we have made progress. we lift the lid and it's a bit more complicated. but surely, the risks around higher