Analysts at royal bank of canada capital markets stated in a report that due to the expected slight increase in the inflation rate in the united kingdom in the coming months, the Bank of England may maintain a gradual pace of rate cuts. The royal bank of canada indicated that the Bank of England has stated it will gradually reduce interest rates, and the inflation data that rose on Wednesday is unlikely to change this approach. Analysts noted: "Due to the imposition of VAT on private school tuition and the increase of the cap on single bus fares in the united kingdom, the service sector consumer price index inflation rate is expected to rise again in January next year."