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On September 3rd, Bank of England Chief Economist Hugh Peele stated that raising interest rates now would help reduce the likelihood that the central bank would have to take more aggressive measures in the future to curb inflation driven by the Iran war. Peele said, "Raising bank rates does not necessarily mean the start of a long and aggressive rate hike cycle. If policy is implemented properly and communicated effectively, timely increases in bank rates can help prevent some potentially harmful catch-up nominal dynamics and prevent temporary deviations from the target from becoming more persistent." Peele and two other members of the Monetary Policy Committee voted to raise rates in July. On Thursday, interest rate futures investors considered the probability of a 25 basis point rate hike at this months Monetary Policy Committee meeting to be slightly above 15%, while the probability of a rate hike at the November meeting rose to over 70%.Network monitoring website DownDetector reported that several major AI platforms experienced outages on Thursday morning local time, including OpenAI, Claude, Grok, and Cursor.Bank of England Chief Economist Peel: The war with Iran has not shaken long-term expectations.Russian-appointed authorities say a Ukrainian drone struck a passenger bus in Kholivka, a city in the Russian-controlled Donetsk region, killing one civilian and injuring five others.Google (GOOG.O) launches WeatherNext 3 AI model.