3.5%: UK September CPI hits a near one-year high, versus 3.4% expected and 3.1% in August.
Core inflation at 2.8% and services inflation at 3.7% both beat expectations. Markets have priced in a Bank of England rate hike to 4% on November 5—the first in three years.
The US has just raised rates, and the UK is following suit. Global monetary tightening isn’t over yet.
Core inflation at 2.8% and services inflation at 3.7% both beat expectations. Markets have priced in a Bank of England rate hike to 4% on November 5—the first in three years.
The US has just raised rates, and the UK is following suit. Global monetary tightening isn’t over yet.