The UK economy's robust growth of 0.6% in Q2 2024, potentially making it the fastest-growing in the G7, is causing the Bank of England's Monetary Policy Committee to reconsider cutting interest rates soon, which could delay relief for borrowers. Meanwhile, in the US, Federal Reserve officials, including Austan Goolsbee, advocate for timely interest rate cuts to prevent economic decline despite inflation easing to 2.9%. July's CPI data aligns with a 25 basis point rate cut in September rather than a more aggressive 50 basis point cut, supported by both Capitol Economics and recent labor market insights. With core inflation stabilizing and the Fed's focus on balancing price stability and employment, the upcoming inflation report will be critical for final rate cut decisions.