News out on the wires now
- Letter will be released alongside the February 2018 inflation report
I highlighted previously that if the CPI reading comes in even a tick higher Carney would have to write a letter to the UK Treasury to explain why it is overshooting the 2% benchmark.
So yeah, here it is. November CPI y/y came in at 3.1%, higher than the 3.0% reading previously. The letter will only be out next year it seems, not in Thursday's BOE MPC report.
