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Sticky UK services inflation to keep BoE cutting gradually (for now)
Services inflation is set to bounce around 5% into the winter, while headline CPI could get close to 3% in January. That reduces the chance of a rate cut in December, but in the spring, we think there is still a good chance the Bank of England will accelerate its easing cycle. UK services inflation was a tad hotter than the economist consensus had expected in October. But at 5%, it’s only fractionally higher than in September and in line with the Bank of England’s (and our own) forecast. Interestingly though, when we drill down into the details, you discover that much of the recent stickiness is in categories ... (full story)
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- Posted: Nov 20, 2024 9:18pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,276
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