Kai Tuo Macro: The UK Central Bank's interest rate cut has not yet boosted consumer confidence

Jin10 Data August 23 news, Elliott Jordan-Doak, a senior economist at Capital Macro of the UK, said in a report that British consumers seem to have anticipated the Central Bank of England’s interest rate cut. The latest GfK consumer confidence index remained unchanged in August after a one-point increase in July. The interviews for this month’s data were conducted between August 1 and 15, and the Central Bank of England cut the key interest rate on August 1. However, the interest rate cut should help boost consumer confidence, ‘even though there is some fluctuation in the monthly readings.’ As the inflation rate remains far below the rise rate of wages, real income will continue to rise, which will also help enhance confidence.