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Deutsche Bank flags UK growth slowdown as inflation rises to 3.1% in August

AI Market Summary
Deutsche Bank flags a UK "stagflationary" mix: Q2 GDP growth slowed to 0.2% q/q while August CPI re-accelerated to 3.1% and core inflation remains above the BoE's 2% target. This complicates policy expectations (markets price only a ~40% chance of early-2025 cuts), supporting higher gilt yields and keeping GBP sensitive to repricing of the rates path and growth risk.
Impact level
● Medium
Affected assets
NCFXGBP2USD/USDT-0.25%
AI Insight · NCFXGBP2USD/USDTAI Insight
▼ Bearish
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Deutsche Bank said the UK economy is losing momentum as inflation pressures intensify. Official data show quarterly growth slowed to 0.2% in the second quarter, while August CPI rose to 3.1% and core inflation remained above the Bank of England’s target. Markets are pricing in a 40% chance of a rate cut by early 2025. The bank urged caution on expectations for policy easing.
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