Core Viewpoint - The main driving factor for the Bank of England's interest rate cut decision is domestic factors, with a downward trend in the interest rate path over time [1] Group 1: Interest Rate Decisions - There is increased uncertainty regarding when to take action on interest rates, with no predictions made for quantitative tightening (QT) decisions after October [1] - The message released to the market indicates that the situation is "balanced," leading to a re-evaluation of the central bank's policy stance [1] Group 2: Economic Indicators - The consequences of rising Consumer Price Index (CPI) are emphasized as a significant concern [1] - The employment market is showing signs of weakening, which may influence future monetary policy [1] Group 3: Market Reactions - The steepening of the yield curve is noted as a global phenomenon, with the UK government bond yield curve being a consideration for QT decisions [1]

Core Viewpoint - The rise in CPI is expected to suppress the likelihood of interest rate cuts by the Federal Reserve [1] Group 1: Economic Indicators - The market is aware that reaching trade agreements among major economies is not straightforward, and ongoing global trade tensions may continue to support gold prices [1] - CPI data is anticipated to rise, which should provide investors with more guidance on the Federal Reserve's policy direction [1] Group 2: Commodity Prices - Silver prices are projected to reach $38 per ounce in the coming months, with market deficits and a weakening dollar being key factors for further price increases, potentially testing $40 per ounce [1]