International Netherlands: Still expect the Bank of England to cut interest rates in August and November.

Jin10 reported on July 17 that James Smith from ING stated in a report that although the UK labor market is undoubtedly cooling, the latest data shows that the situation has not deteriorated in a snowball effect as is common during recessions. He believes this alleviates the pressure on the Bank of England to accelerate interest rate cuts. That said, Smith noted that for 7 out of the past 8 months, the payroll figures have been in decline. He still expects the Bank of England to cut rates in August and November.