UK inflation expectations remain persistent, the latest BoE Decision Panel survey suggests, notes Shaun Osborne, Chief FX Strategist at Scotiabank.
BoE survey data supports cautious view on rates
“While the panel expects 3-month output prices to moderate slightly (3.6%, down from 3.7% in the last survey), 1-year CPI expectations rose to 2.6%, from 2.5%. The survey suggested no change in elevated wage growth trends and supports the outlook for cautious UK rate cuts in coming months.”
“Yesterday’s sterling gains look a little more persuasive from a technical standpoint. A solid gain on the day reflects signs of continued pound accumulation on dips over the past few sessions. Trend resistance from the late August high was broken yesterday and now serves as support (1.3095). Gains through 1.3175 target 1.3200/25 in the near term.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
