Business news centres on what could be a troubling time ahead in the property market. On average tenants are now paying an average of 28% of their wages on rent. This means they are also cutting back on some expenditures to prioritise their rent. It will be interesting to see if this has a knock on effect on the UK inflation out at breakfast time tomorrow. Analysts are expecting the annualised inflation number to come in at 8.4%. This will be very closely watched as this will also have a bearing on the Bank of Englands interest rate decision on Thursday.
The Pound continues to look strong versus both the Euro and the Dollar where rates remain at around the year highs. With not much news scheduled before breakfast tomorrow it's unlikely this will change too much. There's a couple of speeches from the ECB and the FED, but that's about it for the day ahead of tomorrow.
US: 11:30 FED's James Bullard Speech
EUR: 18:10 ECB's Luis De Guindos Speech
UK: Wednesday 07:00 Inflation Data
UK: Wednesday 07:00 Retail Price Index
As ever we look forward to keeping you in the loop and look out for our next update.
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