M4 Money Supply Growth Slows to 4.5%, Fueling BoE Rate Cut Bets

UK's M4 money supply growth slowed to 4.5% in July, down from 5% in June.

This marks a deceleration in monetary growth momentum and leaves M4 growth 0.5 percentage points lower than the previous month.

The Bank of England's restrictive policies are thought to be successfully cooling down the British economy.

As a result, consumer price inflation is expected to remain subdued, with recent readings hovering near the bank's 2% target.