Small Cap Value Report (Thurs 1 August 2024) - VLX, GMS, RWA, PAY Movers: RR., GILD, COA

Good morning from Paul amp; Graham!
** UK base rate cut today, from 5.25% to 5.0% ** MPC: 5 voted for a cut, 4 for a hold.
Excerpt -
In balancing these considerations, at this meeting, the Committee voted to reduce Bank Rate to 5%. It is now appropriate to reduce slightly the degree of policy restrictiveness. The impact from past external shocks has abated and there has been some progress in moderating risks of persistence in inflation. Although GDP has been stronger than expected, the restrictive stance of monetary policy continues to weigh on activity in the real economy, leading to a looser labour market and bearing down on inflationary pressures.
Monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated further.

Explanatory notes -
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