According to Jinshi, UniCredit pointed out that the Bank of England's MPC decision on June 20 will be a delicate balance, depending on the data released between now and then, including two inflation reports. However, UniCredit still expects the Bank of England to cut interest rates for the first time in August, because it does not take much time to be cautious. Given that the overall inflation rate fell below 2% this spring, the labor market deteriorated further, and GDP growth slowed, this may lead the MPC to continue to cut interest rates at a fairly fast pace after starting to cut interest rates.