Report on inflation in the UK: What to expect from the pound!
Dear traders,
Today, at 11:30 (Kiev), the Office for National Statistics of Great Britain (ONS) will publish inflation data for October. Analysts expect that the growth rate of consumer prices will reach its peak in five years 3.1%, after a value of 3.0% last month.
Ester’s leading expert A. Sivtsov writes:
In case of data release within the forecast, the pound may be under pressure. As according to the results of the November meeting of the Bank of England, the interest rate will reach the level of 1.0% by 2020, which excludes the chances of tightening monetary policy in case of inflation. For more information, see Interest rate of the Bank of England.
In addition, in the UK, traders will focus on unemployment reports and retail sales to get new signals about Brexit’s impact on the economy.
Investors will also be interested in the speeches of Bank of England Deputy Chairman John Cunliffe and Ben Broadbent, who can provide information on the future course of the monetary policy.
Market participants will also follow any news about the progress of negotiations regarding the forthcoming UK withdrawal from the EU.
We wish you to make a good profit based on today’s news,
the day promises to be fruitful!
We remind you that you can always get acquainted with upcoming news in the Economic Calendar, as well as in the daily market review on our official YouTube channel.
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