UK CPI

UK CPI

The UK will release CPI figures at 11:30 MT time on October 17.
British consumer inflation rate rose in August to a 5-year high of 2.9%. This release was followed by a more hawkish than expected statement of the Bank of England, which made traders price in this year’s rate hike in the UK.
If this CPI burst continues, market players will become more certain that the BoE will tighten monetary policy. The impact on the GBP in the short term will likely be positive. If inflation pressures ease down, the initial reaction of the pound will be a decline.     

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