Gate.io: Despite the easing of inflation in the service industry, the Central Bank of the United Kingdom may still remain on hold next month.

According to James Smith, an economist at ING, the UK Central Bank is unlikely to cut interest rates again next month, despite encouraging declines in service sector inflation. Although overall inflation has rebounded to some extent due to the impact of energy price base effects, service price inflation, which is closely followed, slowed significantly in July. However, the service sector itself may be unstable, and policymakers at the UK Central Bank may not have much confidence in the data decline in July. Therefore, the UK Central Bank is likely to maintain the interest rate in September instead of cutting it again. However, over time, news about service sector inflation may gradually improve. This will allow the UK Central Bank to cut interest rates in November, and perhaps again in December.