Back to low inflation: How can we expect the rest of 2024 to play out?

Yesterday (22 May), the Office for National Statistics announced that inflation fell to the lowest level for three years, rising by 2.3% in April from an increase of 3.2% the month before. This decrease supports the Bank of England (BoE) has pushed out market expectations for a UK rate cut until later this summer, due to core and service inflation proving stickier than expected. In December last year, equity markets spiked as comments made by the Federal Reserve were thought to herald a year of multiple interest rate cuts. But those expected reductions in the cost of borrowing have ye...