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Sterling to ease over the coming months

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Economists at Commerzbank analyze GBP outlook ahead of the UK Consumer Price Index (CPI) and labour market data. Speculation about a further rate hike

might gather momentum on unfavourable data If the labour market and inflation data turn out to be unfavourable, speculation about a further rate hike might gather momentum again on the market.

This would support Sterling temporarily. However, we remain sceptical regarding the BoE’s determination to fight high levels of inflation – as the September meeting once again demonstrated – and therefore expect .

 

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