UK CPI for September has come in at unchanged m/m, +1.1% y/y, weaker than the median forecasts of +0.3%, +1.3% respectively. It’s the lowest y/y rate since September 2004.
The numbers will serve to underpin the conviction that UK rates are going to stay low for sometime to come. As a result, it’s not surprising to see cable come under renewed pressure, presently at 1.5725.
Elsewhere, UK DCLG August house prices came in at -5.6% y/y, weaker than the median forecast of -4.9%.
