Inflation and wages disappointed rising less than expected, but do not alter the view of the Bank of England hiking rates on May 10, 2018. Looking at the combination of lower inflation and tight labor market, the Bank of England will prefer precautious rate hike to tame labor market tightness. The interest rate outlook is expected to drive GBP/USD higher long-term. The UK Consumer Price Index (CPI) decelerated to 2.5% over the year in March with core inflation that is stripping the food and energy items out of the consumer basket rising 2.3% over the year in March, the Office for National Statistics said on ... (full story)