UK consumer price inflation assumed its downwards trajectory once more in July following a sharp spike the previous month.
The Bank of England won't be pressured into hiking the base rate quickly because inflation is likely to remain relatively low, according to economist David Miles.
Soapbox: Don’t underestimate the threat of inflation
UK consumer price inflation rose by 1.9% in the year to June, up from 1.5% in May, a larger increase than economists had expected.
Bank of England Governor Mark Carney has said the 'new normal' for interest rates in the UK will be around 2.5%, a level he predicted they may reach by 2017.
The key sectors to back as inflation slides to new low
Reading the runes: What can investors expect in H2?
European markets are set to join the global rally which followed the release of a ‘dovish' statement from the Federal Reserve on monetary policy.
Why the MPC should ramp up QE to stop inflation falling