UK inflation has continued its downward trajectory coming in at 3.2 percent in March. This is a decrease from the 3.4 percent reported in February but slightly higher than consensus expectations of 3.1 percent.

Lindsay James, an investment strategist at Quilter Investors, suggested this data “leaves [interest] rate cuts on the table in the near term”.

However, any rate cuts are likely to be modest.

Ms James noted markets have priced in less than two ...