expect the MPC to stick to its previous guidance emphasising the higher for longer approach. We expect a muted reaction in EUR/GBP but see risks as tilted to the topside. We expect the Bank of England to keep the Bank Rate unchanged at 5.25% on 2 November. This is in line with current market pricing.
4% q/q and the downward revision in September for 0.1% q/q. Likewise, retail sales for September remain weak with retail sales ex auto fuels at -1.0% m/m . UK September inflation came in slightly higher than expected for both headline and core. In m/m SA terms, core inflation pressures remain muted at 0.04% while headline jumped higher to 0.5% on the back of an upward contribution from motor fuels. Importantly, inflation averaged 6.7% in Q3, which is lower than the BoE's forecast of 6.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England Preview: Rates to Stay Put but QT due for Review?Market consensus is heavily skewed towards rates remaining unchanged but the consequences of aggressive rate hikes emerge via spending, housing and economic data
Source: DailyFX - 🏆 305. / 63 Read more »