"UK Inflation Moderates to 3.2% in March Despite Lower Crumpet and Meat Prices"

UK inflation eased to 3.2% in March, slightly higher than expected, prompting concerns about the stickiness of inflation. The higher-than-expected figures have led investors to delay bets on the timing of the first Bank of England rate cut. BOE Governor Andrew Bailey sees evidence that higher interest rates are curbing price rises, but the unexpected rise in unemployment and dip in wage growth have raised uncertainty. Market pricing now suggests a majority of investors anticipate a rate cut in September or November, with concerns also arising about the path of central banks globally amid continued inflationary pressures in the U.S.