Market insights

UK Inflation Higher Than Expected

The pressure is off the Bank of England to cut it's base rate in December.

The main lever for controlling inflation is the interest rate.

If the UK annualised growth rate had come in lower than the 2.2% expected it could have been the opposite.

On the back of this there was an immediate, small jump in GBP/EUR rates.

The higher than expected reading of 2.3% was put down to increases in energy prices for consumers.

Today it's back to speeches from central banks with the highlight being the ECB President, Christine Lagarde.

Breakfast tomorrow sees the UK release its public sector net borrowing position, a snapshot into how the Government is funding its spending.

Business news covers the inflation report this morning with more detail around energy prices. Households will be feeling the average of £149 annually being added to their energy bills.

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Economic calendar

EUR: 13:00 ECBs Christine Lagarde Speech

UK: Thursday 07:00 Public Sector Net Borrowing

As ever we look forward to keeping you in the loop and look out for our next update.

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