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Mohamed A. El-Erian, president at Queens' College, University of Cambridge, highlights that UK headline inflation remained unchanged at 2.8 percent in May, slightly below the consensus forecast of 3.0 percent.
Core inflation edged up from 2.5 percent to 2.6 percent, while the data release is contributing to lower market yields and shifting market expectations that the Bank of England may delay a rate hike.
El-Erian has frequently commented on shifts in official reserves, noting that the share of gold in global central bank holdings reached 27% at the end of 2025. He has also shared concerns about U.S. fiscal risks, highlighting John Plender’s warning as U.S. public debt approached record highs and Treasury funding risks increased. These observations follow his regular analysis of global economic indicators.