UK August CPI has come in at +0.4% m/m, +1.6% y/y, stronger than median forecasts of +0.2%, +1.4% respectively.
Cable was marked higher on the numbers, but there hasn’t been any real followthrough. Cable presently at 1.6635, up about 10 points post release.
At the end of the day UK rates ain’t going higher anytime soon. Present low rates are here for foreseeable future.
