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UK Inflation And Pound: August BoE Rate Cut Odds Edge Lower
The latest UK inflation data was marginally higher than expected and there will be further concerns over stubborn services-sector developments, dampening calls for a near-term Bank of England (BoE) rate cut. The Pound to Dollar (GBP/USD) exchange rate edged jumped to 1.2990 from 1.2970, but failed to hold the gains with further selling interest on approach to 1.30. The Pound to Euro (GBP/EUR) exchange rate also hit selling above 1.19. UK consumer prices increased 0.1% for June with the headline inflation rate remaining at 2.0% and marginally higher than consensus forecasts of 1.9%. Core inflation also held at 3.5% ... (full story)
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- Posted: Jul 17, 2024 8:59pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,991
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