The Pound has dropped this morning versus most major currencies. The UK inflation number came in at 6.7% against an expected 7.1% and down from July's 6.8%. Analysts are citing the dropping prices of food for the unexpected drop.
The reason the Pound has dropped is the figure will take pressure off the Bank of England to raise interest rates tomorrow. Analysts are still expecting a 0.25% hike, but it is less certain now.
And it's a big 24 hours generally for scheduled news so keep an eye on Euro and Dollar rates.
There's speeches from the ECB throughout the day, but the stellar headline will be the US interest rate decision at tea time tonight. Analysts are expecting the FED to leave the rate at 5.5%. It's not just the rate decision either. There's the FED's monetary policy statement and a raft of future interest rate forecasts.
Then there's the New Zealand GDP number (quarter on quarter growth of 0.5%) before the UK's public sector net borrowing position at breakfast tomorrow.
EUR: 10:00 ECB's Isabel Schnabel Speech
EUR: 14:00 ECB's Frank Elderson Speech
EUR: 14:45 ECB's Isabel Schnabel Speech
US: 19:00 FED Interest Rate Decision
US: 19:00 FED's Monetary Policy Statement
US: 19:00 FED's Interest Rate Projections
US: 19:30 FOMC Press Conference
NZ: 23:45 GDP Numbers
UK: Thursday 07:00 Public Sector Net Borrowing
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