GDP-
Since May of 2021, 54 full months ago, UK inflation has been at or below the 2% Bank of England target only twice. Worse yet, that run of 52/2 looks likely to extend even into next year, certainly if what companies anticipate comes to fruition.
UK firms still expect inflation to be just shy of 4% in 12 months times, alarming, as highlighted by Monetary Policy Committee voting member Catherine Mann. Mann said in comments yesterday "you know you have price stability when firms and households are not thinking about inflation".
Very true, but all the recent data suggests that inflation remains at the front of both firms and families minds. With CPI data out tomorrow morning and expected to show the biggest one month drop since September of 2024, as well as a heavily taxing budget to come next week, there is some green shoots, but the Pound seems a likely casualty either way.
USD-
Whilst the Pound struggles, the Dollar soars, having its best day for two weeks as traders cool there bets of a Federal Reserve interest rate cut in December.
Markets Today
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Major Economic Releases (All times in GMT)
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