Coming up at 0830GMT is the UK inflation data for June.
The headline figure is the y/y CPI change:
- expected is +1.6% (Bloomberg survey median)
- prior was +1.5%
Any surprise to the topside for the inflation data is going to reignite talk of Bank of England rate rises. I’d think, though, we’d have to see a pretty shocking jump (to up much closer to the Bank’s target rate of 2%) to really prompt imminent action from the BoE. I can’t think that is likely. But, hey, stranger things have happened.
On the other hand, if the headline comes in below expectations market expectations for rate rises will be pushed back; and with current sentiment favouring the cable it could well come off heavily.
–
Anyway, while wait … a beautiful song from Goat:
