The UK's headline inflation rate fell back to 2.8% in July, matching analysts' expectations, the latest data has revealed.
Fixed income managers have cautioned the Bank of England (BoE) will be forced to backtrack on its forward guidance measures as it has been too pessimistic over the state of the UK economy.
UK CPI inflation rose from 2.7% to 2.9% in June, with the largest upward contributions coming from petrol, clothing and footwear.
Three week the investing public was awarded a brief glimpse into the mysterious world of central banking through events in Cyprus.