This via S&P Global is a very breiof comment on the upcoming BoE meeting this week:
- Having been postponed due to the death of Her Majesty Queen Elizabeth II, the Bank of England meeting will take place for which markets will be eager to see the assessed impact of the energy price cap on the bank’s inflation projections.
- That said, the cap is unlikely to impact the bank’s immediate policy decision, for which markets are predicting a 50-basis point hike.
- In contrast to the US, UK inflation figures came in lower than expected amid falls in fuel costs, resulting in the first CPI dip on an annual basis for almost a year. UK inflation none the less remain close to 40- year highs, with rising food costs a particular concern.
Decision at 1100 GMT on Thursday: